Berger Paints India’s promoters have set floor price for offer for sale (OFS) of 1.87 million shares of the company at Rs 185 a share, a discount of Rs 10.15 to Thursday’s closing price on the National Stock Exchange (NSE). The share sale constitutes 0.54% of the company’s share capital, and is aimed at meeting the minimum public shareholding norm, as promoters hold 75.54% in the company as on December 31, 2012.
Religare Capital Markets has been appointed broker on behalf of the promoters Citland Commercial, Wang Investments and Finance, Bigg Investments, Vinu Dhingra and Kuldip Singh Dhingra.
Berger Paints is the third largest paint manufacturer and second largest manufacturer in decorative paints. It’s headquarter is located in Kolkata, has distribution network of 75 stock points and 12,000 paint retailers. The company’s manufacturing facilities is located in West Bengal, Uttar Pradesh, Pondicherry, Goa, and Jammu and Kashmir.
| Company Name | CMP |
|---|---|
| Asian Paints | 2463.40 |
| Berger Paints India | 468.80 |
| Kansai Nerolac Paint | 203.05 |
| JSW Dulux | 2930.65 |
| Indigo Paints | 839.55 |
| View more.. | |
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