Financial Stock In Focus As Promoter Offloads 16.19 Lakhs Shares Through OFS

The shares of Delphi World Money saw an intraday high of Rs 423 during the morning session on Monday, after they began on the NSE at Rs 380 apiece, recording an 8.46% gain. The boost in share price coincides with the company's announcement that the offer for sale (OFS) of up to 16,30,000 equity shares has been approved by the board of directors. Approximately 14.65% of the company's total paid-up equity shares are represented by this.

Offer for Sale (OFS) of shares from its promoter, M/s. Ebixcash World Money Limited, dated 15th December, 2023 has been booked by selling shares of up to 16.19 lakhs.

"We wish to inform you that M/s EbixCash World Money Limited, promoter of M/s Delphi World Money Limited (the "Company"), being the selling promoter(s) proposes to sell up to 16, 19,280 equity shares of face value of Rs. 10/- each representing 14.55% of the total paid up equity share capital of the Company (hereinafter referred to as "Offer Shares") on Day of OFS through a sale on the separate window provided by BSE Limited in accordance with (i) SEBI OFS Circular (ii) Notice No. 20230127-14 issued by BSE Limited (the "Sale"). The Offer shall be undertaken exclusively through Seller's broker (define hereinafter) on a separate window provided by the BSE Limited for this purpose," said Delphi World Money in a stock exchange filing.

"The Offer shall open on 18th December, 2023 (for Non- Retail Investors only), and on 19th December, 2023 (for Retail Investors and for Non- Retail Investors who choose to carry forward their bids) through a sale on the separate designated window to be provided by BSE Limited only," as per a regulatory filing.

The issue's floor price is set at Rs 304 per piece. For this issuance, SMC Global Securities has been serving as the settlement broker.