Notice of Offer for Sale (OFS) of shares of Veedol Corporation Ltd.
Price
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Awaiting price reaction for this filing.
Andrew Yule & Company Ltd, one of the promoters of Veedol Corporation Ltd (formerly Tide Water Oil Co. (I) Ltd.), proposes to sell up to 3,48,480 equity shares of face value ₹2 each, representing 2% of Veedol's paid-up equity share capital. The offer will be conducted through the stock exchange mechanism on BSE and NSE over two trading days: June 10, 2025 for non-retail investors and June 11, 2025 for retail investors. The floor price is set at ₹1,566 per share, with no retail discount. IDBI Capital Markets and BOB Capital Markets are acting as the Seller's Brokers, with NSE as the designated stock exchange. Promoters and promoter group members are not allowed to participate in this offer.
This OFS will increase the free float of Veedol Corporation by 2% as promoter Andrew Yule reduces its stake. For Andrew Yule shareholders, this is a routine divestment that may provide cash inflow to the seller; the floor price of ₹1,566 sets a reference for the bidding process. Existing Veedol shareholders may see temporary price pressure during the OFS window due to increased supply.