Sumitomo Chemical Company, promoter of Sumitomo Chemical India proposes to sell up to 49.91 lakh shares, representing approximately one per cent of the total paid-up equity share capital of the company on Friday (for institutional investors) and on Monday (for retail investors) through offer-for-sale mechanism. The OFS has an option to additionally sell up to 49.91 lakh shares in case of oversubscription.
The floor price for the sale has been fixed as ₹265. Currently, Sumitomo Chemical holds 80.3 per cent stake in Sumitomo India, which closed at ₹309.5 on the BSE.
Sumitomo India is the demerged entity from Excel Crop Care and sold to Sumitomo Chemical.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.