Public Market

Secondary Issues

Orchid Pharma fixes OFS floor price at 72% discount

Business Line  

Orchid Pharma has set the floor price for its offer for sale (OFS) at INR 375 - a discount of 72% to the stock's closing price of INR 1,319.80. The OFS, being made by Orchid promoter Dhanuka Laboratories, opened for subscription on June 24 for non-retail investors. It will open for retail investors on June 25. The OFS is being conducted to meet the minimum public shareholding of 25%. The promoters hold 98.04% in the company.