BSE opens OFS for RSGBL; promoter to sell 11.55% at ₹730 floor
Vital Connections LLP, promoter group entity of Riddhi Siddhi Gluco Biols, aims to sell up to 8,23,422 shares via OFS to meet minimum public shareholding norms.
What changed
- Promoter group Vital Connections LLP launching OFS for RSGBL shares, up to 11.55% stake.
- Floor price set at ₹730 per share; non-retail bidding on June 22, retail on June 23.
The read
BSE has opened the Offer for Sale window for Riddhi Siddhi Gluco Biols, giving investors a direct route to buy a 11.55% chunk from promoter group Vital Connections LLP. The floor of ₹730 values the block at roughly ₹60.1 crore. Non-retail investors get first crack on June 22; retail can bid the next day. The OFS is purely about meeting SEBI’s public float rule — no strategic intent, no new regulatory shift. For RSGBL shareholders, the supply overhang may pressurise the stock in the near term. For buyers, the floor offers a reference, but demand will set the final price.
Primary source: official circular (PDF)