BGR Energy Systems Updates on Proposed offer for sale of equity shares by a constituent of the Promoter Group

BGR Energy Systems Ltd has announced with reference to the proposed offer for sale of equity shares by a constituent of the Promoter Group and notice of floor price.

Mrs. Sasikala Raghupathy (the "Seller"), being a constituent of the promoter group of the Company, had undertaken to sell an aggregate of 44,22,830 equity shares of Rs. 10 each (such equity shares referred to as the ("Sale Shares") representing 6.13%of the equity share capital of the Company.

Pursuant to the Clause 11 of the SEBI Circular, in case of insufficient demand, the Seller has the option to either conclude the Sale or cancel it in full. This is to inform you that whilst sufficient demand has not received for the Sale Shares at or above the floor price of Rs. 163/-per equity share, the Seller shall conclude the Sale to the extent of valid orders placed on a price priority basis.

Shares of BGR Energy Systems Ltd was last trading in BSE at Rs.166.40, down by Rs.3.10 or 1.83%. The stock hit an intraday high of Rs.167 and low of Rs.162.

The total traded quantity was 0.96 lakhs compared to 2 week average of 0.56 lakhs.

Source : Equity Bulls

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