Veedol Corporation Limited has informed the Exchange about Notice of OFS issued by Andrew Yule & Co. Ltd.
VEEDOL · price
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On the reaction day the stock moved 3.7 pts more than Nifty Microcap 250 and 3.2 pts more than its Lubricants peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Veedol Corporation Limited has informed the exchanges that its promoter, Andrew Yule & Company Limited (a Government of India enterprise), is selling up to 3,48,480 equity shares (face value Rs. 2) through an Offer for Sale on the stock exchanges, representing 2% of the company's total paid-up share capital. The floor price has been set at Rs. 1,566 per share, with no retail discount. The OFS will take place on June 10, 2025 for non-retail investors and June 11, 2025 for retail investors, with 10% of the offer reserved for retail investors (capped at Rs. 2 lakh per bidder). IDBI Capital Markets and BOB Capital Markets are acting as the Seller's Brokers, with NSE as the designated stock exchange.
This is a promoter-driven supply of 2% of equity which may create short-term selling pressure on the stock. Andrew Yule remains the promoter post-OFS, so there is no change in controlling shareholder; long-term investors should view this as routine government disinvestment activity rather than a negative signal about the business.