Govt to sell 5% Stake in CONCOR

The government will sell 5% stake in Container Corporations of India (CONCOR) at a minimum price of Rs 1,195 a piece, to garner Rs 1,165 crore

CONCOR ICD trafficContainer Corporation of India  Ltd (CONCOR) announced that President of India, acting through the Ministry of Railways, Government of India) has submitted to BSE a Notice of Offer to sell up to 97,48,710 equity shares of the Company of face value of Rs.10 each, representing 5% of the total paid up equity share capital of the Company (“the Offer Shares”) on March 09, 2016, (for non-Retail Investors) and March 10, 2016 (for Retail Investors and non-Retail Investors.

The floor price for the Offer shall be Rs.1195 (Rupees One Thousand One Hundred and Ninety Five) per equity share of the Company.

Container Corporation Of India Ltd ended at Rs. 1226.65, down by Rs. 6.65 or 0.54% from its previous closing of Rs. 1233.3 on the BSE.

The scrip opened at Rs.1220 and touched a high and low of Rs.1260.7 and Rs.1200.55 respectively. A total of 102474 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs.24045.65 crore.

The BSE group ‘A’ stock of face value Rs.10 touched a 52 week high of Rs.1944 on 01-Jun-2015 and a 52 week low of Rs.1050.85 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs.1253 and Rs.1146 respectively.

The promoters holding in the company stood at 61.79 % while Institutions and Non-Institutions held 35.08 % and 3.12 % respectively. The stock traded below its 200 DMA.

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