Oberoi Realty Ltd.

In a bid to meet Securities and Exchange Board of India’s (SEBI) minimum public shareholding (MPS) norms, Oberoi Realty’s promoters are eying to dilute their stake through offer for sale (OFS) route.

The issue, which opens on September 26, has on offer 1.14 crore shares. The floor price for the issue has been fixed at Rs 158 per share. The Mumbai-based real estate firm is expected to raise about Rs 180 crore through the issue. According to SEBI’s MPS norms, private companies are expected to bring down the promoter shareholding in the company to 75%. The issue size of 1.14 crore shares amounts to 3.5% of the total paid-up share capital of the country.

As on June 2013, the promoters holding in the company stood at 78.49% while institutions and non-institutions held 10.68% and 10.83% stake in the company, respectively.