GE Vernova T&D India: Major Stake Sale Alert

Grid Equipments is set to divest 8.38% of its stake in GE Vernova T&D India through an Offer for Sale mechanism. The sale involves 2.14 crore shares with a floor price of Rs 1,550 each, executed via BSE and NSE. JP Morgan India is the transaction's broker.

Grid Equipments, promoter of GE Vernova T&D India, is divesting up to 8.38% of its holding in the company using an offer for sale (OFS) strategy. The process launches Tuesday and concludes Wednesday.

This divestment includes a base offer of 1.4 crore equity shares, which is 5.47% of the total paid-up equity, with an option to oversubscribe by an additional 74.51 lakh shares, contributing to a total of 2.14 crore shares offered, equivalent to an 8.38% stake.

The item will be executed through a specific trading window on BSE and NSE, set at a floor price of Rs 1,550 per share, with non-retail investors having bidding opportunities on November 26 and retail investors participating on November 27.

(With inputs from agencies.)