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 “Seller”) through stock Exchange mechanism proposes to sell up to 2.5% (2,00,00,000) equity shares of face value of Rs.2 each of Indian Railway Catering and Tourism Corporation Limited (the “Company”) (“Base Offer Size”), on December 15, 2022 (“T day”), (for non-Retail Investors only) and on December 16, 2022 (“T+1 day”) (for Retail Investors and non-Retail Investors who choose to carry forward their un-allotted bids) with an option to additionally sell 2.5% (2,00,00,000) equity shares of the Company (the “Oversubscription Option” and in event the Oversubscription Option is exercised, the equity shares forming part of the Base Offer Size and the Oversubscription Option will represent 5% (4,00,00,000) issued and paid up equity share capital of the Company, and will collectively, 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 to as “Offer Shares”) through a separate, designated window of the BSE Limited (the “BSE”) and the National Stock Exchange of India Limited (the “NSE” and together with BSE, the “Stock Exchanges”, collectively representing 5% of the total paid up equity share capital of the Company on September 30, 2022, and such offer hereinafter referred 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 up to December 28, 2018, pursuant to subsequent circulars issued by SEBI) (the “OFS Circular”), and section 21 of chapter 1 of the “Master Circular for Stock Exchange and Clearing Corporation- Trading” issued by SEBI through its circular no. SEBI/HO/MRD/DP/CIR/P/117 dated October 25, 2019 (together with the OFS Circular, the “OFS Guidelines”); b) the “Revised Operational Guidelines for Offer for Sale (OFS) Segment” issued by the BSE through its notice no. 20200701-27 dated July 1, 2020, notice no. 20190118-43 dated January 18, 2019, notice no. 20160218-33 dated February 18, 2016, notice no. 20150702-28 dated July 2, 2015, and, to the extent applicable, the previous notices issued by the BSE in this regard, including notice no. 20150122-30 dated January 22, 2015, notice no. 20140902-33 dated September 2, 2014, notice no. 20130129-23 dated January 29, 2013, notice no. 20120727-26 dated July 27, 2012, notice no. 201202228-30 dated February 28, 2012 and notice no. 20120222-34 dated February 22, 2012; and c) the “Offer for Sale-Introduction of Interoperability” issued by the NSE through its circular no. 51/2020 dated June 30, 2020, circular no. 23/2020 dated February 19, 2020, circular no. 08/2019 dated January 18, 2019, circular no. 10/2016 dated February 19, 2016, and to the extent applicable, the previous circulars issued by the NSE in this regard, including circular no. 29/2015 dated June 30, 2015, circular no. 6/2015 dated January 28, 2015, circular no. 44/2014 dated September 2, 2014, circular no. 52/2013 dated May 30, 2013, circular no. 0037/2013 dated January 31, 2013, circular no. 005/2013 dated January 30, 2013, circular no. 52/2012 dated August 2, 2012, circular no. 73/2012 dated February 24, 2012, and circular no. 2/2012 dated February 21, 2012.
The particulars of the above offer for sale are attached to this notice.
The floor price for the Offer shall be Rs. 680.00/- (Indian Rupees Six Hundred and Eighty Only) per Equity Share.
Such number of Equity Shares as would be equivalent to up to 0.5% of the total paid up Equity Share capital of the Company (over and above the Offer Shares) may be offered to eligible employees of the Company subsequent to completion of the Offer, in accordance with terms and conditions in the OFS Guidelines, subject to approval from competent authorities (the “Employee Offer”). The eligible employees may apply for Equity Shares up to Rs 5,00,000/-
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
Assistant General Manager
Listing Sales & Ops
December 14, 2022 |