Equippp allows promoters to sell 7% stake

Hyderabad: EQUIPPP Social Impact Technologies Ltd has launched an offer for sale (OFS) that will allow its promoter group to offload 92.78 lakh shares at a floor price of Rs 26.4 a piece, as per a regulatory filing. CIL Securities will act as the brokers for this offer. The OFS will be executed over two days, with the offer being opened up for non-retail investors on Friday and for the retail investors on Monday.

The base size of the offer will be “92,78,571 equity shares”, which represents 9 percent of the total paid-up equity share capital, the exchange filing noted. The seller may also offload an additional 20.61 lakh shares, representing two percent of the overall stake, EQUIPPP Social Impact Technologies Ltd informed the bourses.

If the oversubscription option is exercised, the company will end up collectively offloading 1.13 crore shares, which represent 9 percent of the paid-up share capital.