Notice No20241125-9Notice Date25 Nov 2024
CategoryTradingSegmentEquity
SubjectOpening of Offer for Sale for GE Vernova T&D India Limited (formerly GE T&D India Limited) (the “Company”)
Content

Trading Members and Custodians are requested to refer to notice nos. 20190118-43 dated January 18, 2019, 20200701-27 dated July 01,2020, 20230127-14 dated January 27,2023, 20240221-47 dated February 21, 2024 and 20240701-19 dated July 01, 2024 detailing Revised Guidelines for Bidding in Offer for Sale (OFS) Segment. The above guidelines were issued by the Exchange with reference to Securities and Exchange Board of India (SEBI) circular no. SEBI/HO/MRD/DOPI/CIR/P/2018/159 dated December 28, 2018 regarding “Review of Offer for Sale (OFS) of Shares through Stock Exchange Mechanism” , SEBI/HO/MRD/MRD-PoD-3/P/CIR/2023/10 dated January 10, 2023, regarding “Comprehensive Framework on Offer for Sale (OFS) of Shares through Stock Exchange Mechanism”, SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/6 dated January 23, 2024 regarding “Framework for Offer for Sale (OFS) of Shares to Employees through Stock Exchange Mechanism” and SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/82 dated June 14, 2024.

All Market Participants are hereby informed that Grid Equipments Private Limited (the “Seller”), proposes to sell up to 1,40,00,000 Equity Shares of face value Rs 2/- each of GE Vernova T&D India Limited (formerly GE T&D India Limited) (the “Company”) (representing 5.47 % of the paid up Equity Share capital of the Company) ("Base offer Size); on November 26, 2024 (“T Day”) (for Non-Retail Investors only) and on November 27, 2024 (“T+1 Day”) (for Retail Investors and for Non-Retail Investors from T Day, who choose to carry forward their un-allotted bids)  (with an option to additionally sell up to 7,451,168 equity shares i.e., 2.91 % of the paid up equity share capital of the Company (the “Oversubscription Option”), (hereinafter be referred to as “Offer Shares”) In case the Oversubscription Option is not exercised, the equity shares forming part of the Base Offer Size will hereinafter be referred as “Offer Shares” through a separate, designated window of the BSE, collectively representing up to 2,14,51,168 equity shares which is 8.38% of the total paid up equity share capital of the Company as on November 25, 2024 (held in dematerialized form in one or more demat accounts with the relevant depository participant) in accordance with the OFS Guidelines (such offer for sale hereinafter referred to as the “Offer”) and in accordance with a) the “Comprehensive Guidelines on Offer for Sale (OFS) of Shares by Promoters through the Stock Exchange Mechanism” issued by the Securities and Exchange Board of India (the “SEBI”) through its circular no. CIR/MRD/DP/18/2012 dated July 18, 2012 as amended and updated by circulars nos. CIR/MRD/DP/04/2013 dated January 25, 2013, CIR/MRD/DP/17/2013 dated May 30, 2013, CIR/MRD/DP/24/2014 dated August 8, 2014, CIR/MRD/DP/32/2014 dated December 1 2014, CIR/MRD/DP/12/2015 dated June 26, 2015, CIR/MRD/DP/36/2016 dated February 15, 2016, CIR/MRD/DP/65/2017 dated June 27, 2017,  SEBI/HO/MRD/DOPI/CIR/P/2018/159 dated December 28, 2018 (the “OFS Circular”), SEBI/HO/MRD/MRD-PoD-3/P/CIR/2023/10 dated January 10, 2023, SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/6 dated January 23, 2024 regarding “Framework for Offer for Sale (OFS) of Shares to Employees through Stock Exchange Mechanism” and SEBI/HO/MRD/MRD-PoD-3/P/CIR/2024/82 dated June 14, 2024 regarding “Modification in Framework for Offer for Sale (OFS) of Shares to Employees through Stock Exchange Mechanism” and section 21 of chapter 1 of the “Master Circular for Stock Exchange and Clearing Corporation” issued by the SEBI through its circular no. SEBI/HO/MRD/DP/CIR/P/117 dated October 25, 2019 (the “OFS Master Circular”, and together with the OFS Circular, the “SEBI OFS Circulars”); b) the “Revised Operational Guidelines for Offer for Sale (OFS) Segment” issued by BSE through its notice no. 20200701-27 dated July 1, 2020 and, to the extent applicable, the previous notices issued by BSE in this regard.

The floor price of the Offer shall be Rs.1550.00 (Rupees One Thousand Five Hundred & Fifty only) per Equity Share.

The particulars of the above offer for sale are attached to this notice.

Market participants are further requested to note that the Exchange would disseminate the details of this Offer for Sale on BSE Website – www.bseindia.com.

 

Mangesh Tayde

Deputy General Manager

Listing Business Relationship

November 25, 2024

Attachments
OFS NOTICE.pdf