Bosch Global Software Technologies Pvt. Ltd., through the stock exchange mechanism, is going to be the selling shareholder in this Offer For Sale.
The base offer size is to sell 7.22% of the total outstanding equity of the company, with a greenshoe option of another 0.75% stake.
Bosch Home Comfort’s OFS for non-retail investors opens for subscription today, while retail investors can bid for it on Friday, June 19.
A minimum of 10% of the shares on offer are reserved for retail investors, classified as those who have an authorized share capital of up to ₹2 lakh. The company plans to sell 19.63 lakh shares through this OFS.
The OFS will open for non-retail investors on Thursday, and for retail investors on Friday, June 19.
At the end of the March quarter shareholding pattern, promoters of Bosch Home Comfort have a 82.22% stake in the company, where Johnson Controls Hitachi AC India Holdco Ltd. has a 74.22% stake, while Bosch Global Software has a 7.97% stake. The stake sale will be a clean out trade for Bosch Global Software.
Among the public shareholders, Mutual Funds had a 0.96% stake in the company at the end of the March quarter, FPIs had a 0.67% stake, while close to 30,000 small retail investors, had a 9.3% stake in the company.
Shares of Bosch Home Comfort ended 5% lower on Wednesday at ₹1,280. The stock is still down 10% so far this year.
