Veedol Corporation Limited has informed the Exchange about the pre-dealing request received from Andrew Yule & Co. Ltd.
VEEDOL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Andrew Yule & Co. Ltd., the promoter of Veedol Corporation, has applied for pre-dealing approval to sell 3,48,480 equity shares through an Offer for Sale (OFS) via the stock exchange mechanism. Andrew Yule currently holds 45,71,115 shares in the company, so this sale represents about a 7.6% reduction in its promoter holding. The proposed transaction is valued at roughly Rs. 59.25 crore at the current market price of Rs. 1,701 per share. The dealing window is set for 10th June 2025 to 14th June 2025. Andrew Yule is a Government of India enterprise.
This is a promoter sell-off through OFS, which typically creates supply-side pressure on the stock in the short term. Existing shareholders should brace for potential dilution of promoter holding and monitor how the OFS is priced relative to the prevailing market price, as it could influence near-term sentiment.