Published on Thursday, August 20, 2015 by Dilip Davda | Modified on Friday, November 1, 2019
Dredging Corporation of India Ltd is diluting Govt of India's stake and is coming out with an 'Offer for Sale' of 1400000 equity share of Rs 10 each. The company has fixed a floor price for the said OFS at Rs 382 per share against its closing price of Rs 387.30 on previous eve. Thus the offer price is at a discount of little over 1% and the retail investors will get 5% discount on the cut off price offered by them. 10% of the total issue is reserved for allotment to retail investors. Minimum lot for application will be 1 and in multiple of it. Allotment will be done on 'Price Priority' basis. This offer begins at 9.15 am on 21.08.15 and will end at 15.30 hrs. It has a tick size of Rs 0.05 paise.
Selling members for this offer are 1) SBICAP Securities Ltd ( Clg. No 95 ) and 2) IDBI Capital Market Services Ltd ( Clg.No 84 ) and the seller promoter is The President of India acting through and representated by the Ministry of Shipping,Government of India(Promoter). More details on session and bidding categories are as under:
| LIVE | OFS SESSION | Date | Day | FROM | TO |
|---|---|---|---|---|---|
| Bid Entry Period | 21st Aug, 2015 | T | 9.15 AM | 3.30 P.M. | |
| Bid Modification and Cancellation | 21st Aug, 2015 | T | 9.15 AM | 3.30 P.M. | |
| Give-up / Take-up | 21st Aug, 2015 | T | 9.15 AM | 3.30 P.M. | |
| Give-up / Take-up Session* | 24th Aug, 2015 | T+1 | 10.00 A.M. | 1.00 P.M. |
* Only for Institutional Investor bids of 0% Margin bids
| Investor Type | Bidding Category | Margin Type | Collateral Type for Bidding | Settlement Day |
|---|---|---|---|---|
| Retail Investor Individual, HUF, NRI (Bid value up to Rs 2 Lacs) | RIC | Upfront 100% Margin | Cash & Cash Equivalents | T+2 |
| Retail Investors - Individual, HUF, NRI (Bid value up to Rs 2 Lacs) | RI | Upfront 100% Margin | Cash & Cash Equivalents | T+2 |
| Retail Investors - Individual, HUF, NRI (Bid value above Rs 2 Lacs) | NII | Upfront 100% Margin | Cash | T+1 |
| Non Institutional Investor | NII | Upfront 100% Margin | Cash | T+1 |
| Institutional Investor | MF, IC, OTHS | Upfront 100% Margin | Cash | T+1 |
| Institutional Investor | MF, IC, OTHS | 0% Margin | ---- | T+2 |
| Settlement | Type OFS |
|---|---|
| Settlement Number | 1516005 |
| Pay in funds (if any) | (T+1 Day) Aug 24th, 2015 By 10.00 A.M. |
| Pay out of Funds / Securities | (T+1 Day) Aug 24th, 2015 By 12:30 P.M. |
| Settlement Type | OFST2 |
| Settlement Number | 1516005 |
| Pay in | (T + 2 Day) Aug 25th, 2015 By 10.00 A.M. |
| Pay out | (T + 2 Day) Aug 25th, 2015, By 12.30 P.M. |
Retail investors should opt for bids in this offer.
Dilip Davda is a veteran financial journalist associated with the Indian stock market since 1978. He has been contributing to print and electronic media on capital markets, insurance, and finance since 1985.
He is widely recognized for reviewing public issues and non-convertible debentures (NCDs) in the primary market. Drawing on over three decades of market experience and close interaction with merchant bankers, his reviews focus on detailed fundamental and financial analysis of companies, with a special emphasis on SME public issues.
Dilip Davda
SEBI Registered Research Analyst – Mumbai
Registration No.: INH000003127 (Perpetual)
Email: dilip_davda@rediffmail.com
Disclaimer: The information provided herein is solely for educational and informational purposes and does not constitute an offer, solicitation, or recommendation to buy or sell any securities. Readers are advised to consult a qualified financial advisor before making any investment decisions. Investments in the securities market are subject to market risks. The author does not intend to invest in the securities discussed.
