Veedol Corporation Limited has informed the Exchange that the Company has received an application for pre-dealing approval alongwith necessary undertaking, in connection with the Offer for Sale of Shares by Andrew Yule & Co. Ltd.
VEEDOL · price
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Andrew Yule & Co. Ltd., the promoter of Veedol Corporation (a Government of India enterprise), has applied for pre-dealing approval to sell 3,48,480 equity shares of Veedol through the Offer for Sale (OFS) route on the stock exchange. The proposed selling window is 23rd May 2025 to 27th May 2025, with the reference market price noted at Rs. 1,690.90 per share. Andrew Yule currently holds 45,71,115 shares in Veedol, meaning this sale represents roughly 7.6% of their holding. The OFS will follow the standard stock exchange mechanism, with trading window restrictions under insider trading rules not applying since it is conducted as an OFS.
This is a promoter-level divestment by a government-owned entity, which could create short-term supply pressure on the stock. Retail investors should note that OFS allotments typically go to existing shareholders on a priority basis, and the final offer price may come at a discount to the market price.