Wednesday, May 22, 2024

EQUIPPP launches OFS, promoter to sell 7% stake at floor price of Rs 26.4 per share to meet MPS

Hyderabad, September 7, 2023EQUIPPP Social Impact Technologies Ltd has launched an offer for sale (OFS) that will allow its promoter entity Equivas Capital to offload 72.16 lakh shares at a floor price of Rs 26.4 apiece, as per a regulatory filing made on 1st, September, 2023.

The OFS will be executed over two days, with the offer being opened up for non-retail investors on September 8th, and for the retail investors on September 11th.

The base size of the offer will be “72,166,66 equity shares”, which represents 7 percent of the total paid-up equity share capital, the exchange filing noted

The seller may also offload an additional 20.61 lakh shares, representing two percent of the overall stake, EQUIPPP Social Impact Technologies Ltd informed the bourses.

If the oversubscription option is exercised, the company will end up collectively offloading 92.78 crore shares, which represent 9 percent of the paid-up share capital.

At present, the promoter and promoter groups collectively hold around 97 percent in EQUIPPP Social Impact Technologies Ltd.

Strategic Investment Opportunity OFS of Equippp Social Impact Technologies Ltd

Minimum Public Shareholding (MPS) Compliance is the KEY to unlock the true potential of EQUIPPP.

Ticker: EQUIPPP (NSE Main Board)

OFS Dates: 8th and 11th September

Issue Size: 7% of paid up Equity (97% to 90%)

Cutoff Price: Rs 26.40

Value Proposition

• First of its kind Core IP offerings in Social Impact Domain

• Inorganic Growth Pipeline in advanced stage for immediate value creation

https://www.bseindia.com/xml-data/corpfiling/AttachLive/81E62695-7358-49E0-AEAF-6979539DC589-172605.pdf

Reach out to saikiran@equippp.com to know more

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