Endurance Technologies plunges 10% as offer for sale opens for non-retail investors

Endurance Technologies shares gained more than 10 percent intraday Wednesday after offer for sale by the promoter opened for subscription.

Promoter Anurag Jain will sell up to 63,63,637 equity shares (representing 4.52 percent of the paid up equity) through offer for sale on March 6 and 7, 2019.

The subscription will open for non-retail investors (qualified institutional investors and high networth individuals) on both days, and for retail investors on March 7.

The company said there is an option (oversubscription option) with Anurag Jain to additionally sell up to 41,89,051 equity shares (representing 2.98 percent of the paid up equity) in case the issue get oversubscribed.

The offer for sale issue will take place through a separate, designated window of the BSE Limited and the National Stock Exchange of India Limited.

Endurance Technologies said the floor price of the offer is Rs 1,100 per share.

At 11:51 hours IST, the stock was quoting at Rs 1,138.05, down Rs 125.45, or 9.93 percent amid high volumes on the BSE.
First Published on Mar 6, 2019 12:16 pm

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