Notice of Offer for Sale (OFS) of shares of Veedol Corporation Ltd. is enclosed.
Price
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Awaiting price reaction for this filing.
Andrew Yule & Company Ltd, a promoter of Veedol Corporation Ltd (formerly Tide Water Oil Co.), will sell up to 3,48,480 equity shares (2% of Veedol's paid-up capital) through an Offer for Sale on the stock exchanges. The OFS will take place on June 10, 2025 for non-retail investors and June 11, 2025 for retail investors, at a floor price of Rs. 1,566 per share. No retail discount is being offered on the floor price. IDBI Capital Markets and BOB Capital Markets are acting as seller brokers, with NSE as the designated stock exchange.
This is a routine promoter stake-sale by a government-owned entity, adding 2% supply of Veedol shares to the market. Investors in Veedol should note potential short-term price pressure, while Andrew Yule shareholders may see cash inflow from the divestment.