Subscribe to OFS by Styrolution ABS - Angel Broking

The promoter of Styrolution ABS, Styrolution Jersey (the parent company) proposes to sell 2,167,562 equity shares of face value Rs. 10 each representing 12.3% of the total paid up equity share capital of the company today. The stake sell is offered to abide by the June 2010 amendment of 'Securities Contract Act' which mandates listed companies to have a minimum 25% of public shareholding by June 2013. Styrolution has fixed the OFS floor price at Rs. 400 per share. The offer price is placed at a very attractive valuation of 5.7x its CY2014E earnings and at 23% discount to the closing price of 20th May, 2013.

Hence, we recommend investors to Subscribe for Styrolution OFS.

Source : Equity Bulls

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