The Bombay Rayon Fashions would be offloading about 54.29 lakh equity shares aggregating to 18.72 per cent of the total paid-up share capital of the company through offer-for-sale route. These equity shares have a face value of Rs 10 each.
The stake-sale would be carried on December 5 through a separate window provided by the BSE for this purpose. The sale will open at 9.15 a.m. and end at 3-30 p.m. The floor price for the sale would be declared on December 4 after the close of trading hours of the stock exchanges, according to a company filing with the BSE.
The allocation would be made on price-priority basis at multiple clearing points. A minimum of 25 per cent of the equity shares in the sale would be reserved for mutual funds and insurance companies.
On Monday, the scrip of Bombay Rayon Fashions ended the day at Rs 266 a share, up 2.82 per cent from its previous close on the BSE.