One of BGR Energy promoters — Sasikala Raghupathy — plans to sell 21.7 lakh shares or 3.02 per cent stake in the company on Friday through offer-for-sale route on the exchanges.
The floor price for the stake sale is set at Rs 118 a share, according to a company notice to the exchanges.
The share sale is intended to meet the SEBI’s minimum public shareholding norm of 25 per cent, as the total promoter shareholding in the company currently stands at 78.01 per cent.
On Thursday, BGR Energy stock ended marginally higher at Rs 126.85 on the BSE.