On the final day of SEBI’s deadline for listed private sector entities to achieve minimum 25% public shareholding, promoters of Omaxe have proposed to sell 2.1 crore shares via Offer for Sale (OFS) and have fixed the floor price of Rs 140 per shares, which is at a discount of 6.89% to the closing price of Rs 150.35 of company’s stock as on May 31, 2013 on the BSE.
According to SEBI norms, all private sector listed companies need to have at least 25% public shareholding and promoters have been asked to lower their stake to 75 percent or below by June, 2013.
Omaxe is one of the leading real estate developers in India focused on developing world-class residential and commercial properties all over the country.
