Delphi World Money announces OFS - Check floor price and other details

Shares of Delphi World Money Limited, a subsidiary of EbixCash World Money Limited, gained after two days of consecutive fall on Thursday and touch an intraday high of Rs 385.25 on the BSE. This was a gain of around 8.77 per cent against the previous close of Rs 354.20. 

The surge in share price comes as the company has stated that the board of directors has approved the offer for sale (OFS) of up to 16,30,000 equity shares. This is around 14.65 per cent of the total paid-up equity shares of the company. 

"M/s. EbixCash World Money Limited, promoter of Delphi World Money proposes to sell up to 16.30 lakh equity shares of the face value of Rs 10 each representing 14.65% of the total paid-up equity share capital of the company on the day of OFS through a sale on the separate window provided by BSE Limited," the company said in an exchange filing. 

The offer will open on December 18, 2023 for Non- Retail Investors only and on December 19, 2023 for Retail Investors and for Non- Retail Investors who choose to carry forward their bids.

The floor price for the issue has been set at Rs 304 apiece. According to the exchange filing,  retail investors would mean an individual investor who places a bid for offer shares of a total value of not more than Rs 2 lakh.

SMC Global Securities has been acting as the settlement broker for the issue. There is no discount for the retail investors of the issue.

Meanwhile, the company has said that the trading window for dealing in shares of the company by designated persons will remain closed from December 15, 2023 till December 21, 2023.