Palika Towns LLP, promoter of Harig Crankshafts Ltd (the "Company"), being the selling promoter member proposes to sell 5,25,000 Equity shares of face value of Rs. 10 each representing ....
Awaiting price reaction for this filing.
Palika Towns LLP, the promoter of Harig Crankshafts Ltd, proposes to sell 5,25,000 equity shares (5% of the company's share capital) through an Offer for Sale (OFS) on the BSE platform. The floor price has been set at Rs. 3 per share, making the total OFS size around Rs. 15.75 lakhs at the floor price. The sale is being done to increase public shareholding to 10% and comply with Minimum Public Shareholding (MPS) norms. Non-retail investors can bid on October 1, 2025 (T day), while retail investors can bid on October 3, 2025 (T+1 day), with SMC Global Securities as the seller's broker.
This is a promoter stake sale, which can create short-term supply pressure on the stock. However, the very low floor price of Rs. 3 suggests the shares may be deeply discounted, and the small deal size (Rs. 15.75 lakhs at floor price) means limited market impact. The sale is being done for regulatory MPS compliance rather than promoter exiting due to business concerns.