The public float for a listed company should be 25 per cent. Is there a plan by the government to divest more in the company to meet the minimum public norms?
We did a series of roadshows when we met people in the market. They sat up and took notice of the fact that our performance was good. From then, I think to a great extent the stock started moving up. We also did some international roadshows.
They wanted a really big chunk, something which represents maybe half or one per cent of the company stock. We have to meet the minimum public shareholding of 25 per cent. Currently, it is about 14 per cent. So, that is where the interest came from and it is clear that it will be an offer for sale (OFS) by the government because we don't need capital. Our solvency is at a very good position.
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Denne historien er fra September 02, 2024-utgaven av Business Standard.
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