DHL fixes Blue Dart share sale price at Rs 1,720 apiece, stock soars 20%
The stake sale on Friday could fetch the company at least Rs 246.29 crore. “With reference to earlier announcement...regarding offer for sale of shares by promoter, DHL Express (Singapore) has now informed the BSE that floor price for the sale of shares shall be R1,720 per equity share," it said in a filing to the BSE.
DHL Express (Singapore), which holds a 81.03% stake in Blue Dart Express as on end of September, will sell 14.32 lakh shares in the company on Friday. In a notice of offer for sale on Wednesday evening, Blue Dart had said the sale of 14,31,937 shares would take place on separate windows of both the BSE and the NSE on November 23.
The sale process will start at 9.15 am and close on the same day at 3.30 pm. Following the announcement of the offer for sale, Blue Dart's shares hit the upper circuit limit on the BSE on Thursday, to settle at R2,056.56 apiece, up 20% over the previous closing.
“The seller shall declare the floor price for the sale on November 22 after closure of the trading hours of the stock exchanges, but not later than 5 pm. Orders or bids below the floor price shall not be accepted and will not be considered for allocation," it had said.
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