Disa India will offload around 11.45% of its equity or 1.73 lakh shares in the company to meet the minimum public shareholding norm of 25% by SEBI.
Promoter holding in the company stands at 86.49% currently and the sale will be done through Disa Holding A/S on November 20.
The stake dilution comes in the back of a guideline issued by the finance ministry in 2009 requiring listed companies to raise their public shareholding to 25% and SEBI had asked them reduce the promoter shareholding to a maximum level of 75% (excluding PSUs) by June 2013.
Disa India develops and manufactures a complete range of metal casting production solutions for the ferrous and non-ferrous foundry industries.
Disa India on BSE
In a similar case Omaxe Ltd. was also planning to raise R600 Cr by diluting stake to conform to the public shareholding norm.
Other companies planning stake dilution to meet the rule include Deutsche Post DHL which was set to cut down its stake in logistics firm Blue Dart Express and Godrej Industries had planned to take the QIP method to bring down its promoter stake by raising R405 Cr.
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Tags
Disa India ,
Disa Holding ,
Godrej Industries ,
DHL ,
public shareholding norm ,
offer for sale ,
SEBI ,
Disa India ,
Disa Holding ,
Godrej Industries ,
DHL
KVEZAR VIEW
Company |
| Name | Promoters | Office | Competitor | Website |
| Disa India Limited |
Disa Holding AG |
5th Floor, Kushal Garden Arcade, 1A, Peenya Industrial Area, Peenya 2nd Phase |
|
www.disagroup.com |
