Trading and Custodian Members of the Exchange are requested to refer to notice nos. 20190118-43 dated January 18, 2019 and 20200701-27 dated July 01,2020, 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”.
All Market Participants are hereby informed that The President of India, acting through and represented by the Ministry of Railways, Government of India, (the “Promoter Seller”), proposes proposes to sell up to 4,70,25,787 Equity Shares of the Company, (representing 10% of the total issued and paid up equity share capital of the Company) ("Base Offer Size"), on March 3, 2021, ("T day") (for non-Retail Investors only) and on March 4, 2021 ("T+l day") (for Retail Investors and for non-Retail Investors who choose to carry forward their un-allotted bids) with an option to additionally sell 2,82,15,473 Equity Shares (representing 6% of the total issued and paid up equity share capital of the Company) (the "Oversubscription Option" and in the event that the Oversubscription Option is exercised, the Equity Shares forming part of the Base Offer Size and the Oversubscription Option will represent 16% of outstanding Equity Shares ofthe Company, i.e. 7,52,41,260 Equity Shares, and will collectively, hereinafter be referred to as "Offer Shares" while in the event that such Oversubscription Option is not exercised, the Equity Shares forming part ofthe Base Offer Size will be referred to as "Offer Shares") through a separate, designated window of the BSE Limited (the "BSE") and the National Stock Exchange of India Limited ("NSE", and together with the BSE, the "Stock Exchanges"), representing 16% of the total paid up equity share capital ofthe Company (held in dematerialized form in one or more demat accounts with the relevant depository participant in accordance with the OFS Guidelines referring to Clause 5(b) of the circular number CIR/MRD/DP/18/2012 dated July 18, 2012 notified by the Securities and Exchange Board of India ("SEBI") pertaining to comprehensive guidelines on offer for sale of shares by promoters through the stock exchange mechanism, as amended by circular number CIR/MRD/DP/04/2013 dated January 25, 2013, circular number CIR/MRD/DP/17/2013 dated May 30, 2013, circular number CIR/MRD/DP/24/2014 dated August 8, 2014, circular number CIR/MRD/DP/32/2014 dated December 1, 2014, circular number CIR/MRD/DP/12/2015 dated June 26, 2015, circular number CIR/MRD/DP/36/2016 dated February 15, 2016, circular number CIR/MRD/DP/65/2017 dated June 27, 2017, and circular number SEB1/HO/MRD/DOP1/CIR/P/2018/159 dated December 28, 2018 (the "SEBI OFS Circular"), read with Section 21 of Chapter I of the Master Circular for Stock Exchange and Clearing Corporation — circular no. SEBI/HO/MRD/DP/CIR/P/117 dated October 25, 2019 issued by SEBI (together with SEBI OFS Circular, the "SEBI OFS Circulars"), read with (a) "Revised Operational Guidelines for Offerfor Sale (OFS) Segment" issued by BSE by way of its notice bearing no. 20200701-27 and dated July l, 2020 and, to the extent applicable, the previous notices issued by BSE in this regard; and (b) "Offerfor Sale- Introduction ofInteroperability" issued by NSE by way of its circular bearing no. 51/2020 and dated June 30, 2020 and, to the extent applicable, the previous circulars issued by NSE in this regard (together with the SEBI OFS Circulars, the "OFS Guidelines").
The Equity Shares as would be equivalent to up to 5% of the Equity Shares sold pursuant to the Offer (over and above the Offer Shares) may be offered to eligible employees of the Company to the Cut-Off Price in the Offer subsequent to completion of the Offer, in terms of the OFS Guidelines, subject to approval from the competent authority. The eligible employees may apply for Equity Shares up to Rs. 5,00,000/-. However, any bids by eligible employees will be considered for allocation, in the first instance, for an amount up to Rs. 2,00,000/-. Provided that in the event of under-subscription in the employee portion, the unsubscribed portion may be allotted on a proportionate basis, for a value in excess of Rs. 2,00,000/- subject to the total allotment to an employee not exceeding Rs. 5,00,000/-.
BSE is the Designated Exchange for the Offer for Sale
The particulars of the above offer for sale are attached to this notice.
The floor price for the Offer shall be Rs. 88/- ( Rupees Eighty Eight Only) per Equity Share.
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.
Atul Dhotre
Senior Manager
Listing Sales & Ops
March 02, 2021
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