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Published on Thursday, August 20, 2015 by Dilip Davda | Modified on Friday, November 1, 2019
Dredging Corporation of India Ltd is diluting Govt of India's stake and is coming out with an 'Offer for Sale' of 1400000 equity share of Rs 10 each. The company has fixed a floor price for the said OFS at Rs 382 per share against its closing price of Rs 387.30 on previous eve. Thus the offer price is at a discount of little over 1% and the retail investors will get 5% discount on the cut off price offered by them. 10% of the total issue is reserved for allotment to retail investors. Minimum lot for application will be 1 and in multiple of it. Allotment will be done on 'Price Priority' basis. This offer begins at 9.15 am on 21.08.15 and will end at 15.30 hrs. It has a tick size of Rs 0.05 paise.
Selling members for this offer are 1) SBICAP Securities Ltd ( Clg. No 95 ) and 2) IDBI Capital Market Services Ltd ( Clg.No 84 ) and the seller promoter is The President of India acting through and representated by the Ministry of Shipping,Government of India(Promoter). More details on session and bidding categories are as under:
| LIVE | OFS SESSION | Date | Day | FROM | TO |
|---|---|---|---|---|---|
| Bid Entry Period | 21st Aug, 2015 | T | 9.15 AM | 3.30 P.M. | |
| Bid Modification and Cancellation | 21st Aug, 2015 | T | 9.15 AM | 3.30 P.M. | |
| Give-up / Take-up | 21st Aug, 2015 | T | 9.15 AM | 3.30 P.M. | |
| Give-up / Take-up Session* | 24th Aug, 2015 | T+1 | 10.00 A.M. | 1.00 P.M. |
* Only for Institutional Investor bids of 0% Margin bids
| Investor Type | Bidding Category | Margin Type | Collateral Type for Bidding | Settlement Day |
|---|---|---|---|---|
| Retail Investor Individual, HUF, NRI (Bid value up to Rs 2 Lacs) | RIC | Upfront 100% Margin | Cash & Cash Equivalents | T+2 |
| Retail Investors - Individual, HUF, NRI (Bid value up to Rs 2 Lacs) | RI | Upfront 100% Margin | Cash & Cash Equivalents | T+2 |
| Retail Investors - Individual, HUF, NRI (Bid value above Rs 2 Lacs) | NII | Upfront 100% Margin | Cash | T+1 |
| Non Institutional Investor | NII | Upfront 100% Margin | Cash | T+1 |
| Institutional Investor | MF, IC, OTHS | Upfront 100% Margin | Cash | T+1 |
| Institutional Investor | MF, IC, OTHS | 0% Margin | ---- | T+2 |
| Settlement | Type OFS |
|---|---|
| Settlement Number | 1516005 |
| Pay in funds (if any) | (T+1 Day) Aug 24th, 2015 By 10.00 A.M. |
| Pay out of Funds / Securities | (T+1 Day) Aug 24th, 2015 By 12:30 P.M. |
| Settlement Type | OFST2 |
| Settlement Number | 1516005 |
| Pay in | (T + 2 Day) Aug 25th, 2015 By 10.00 A.M. |
| Pay out | (T + 2 Day) Aug 25th, 2015, By 12.30 P.M. |
Retail investors should opt for bids in this offer.
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published here. Any reader taking decisions based on any information published here does so entirely at own risk. Investors should bear in mind that any investment in stock markets are subject to unpredictable market related risks. Above information is based on RHP and other documents available as of date coupled with market perception. Author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detail fundamental and financial analysis of companies coming up with IPO helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
Email: dilip_davda@rediffmail.com
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