Nine companies including Jet Airways and Tata Teleservices (M) on Thursday hit markets with their respective offer for sale (OFS) issues, worth nearly Rs.900 crore to achieve 25 per cent minimum public shareholding.

While six of them, including Adani Enterprises and Essar Shipping, saw their OFS getting subscribed, the issues of Jet Airways and Essar Ports could not get full subscription for the shares under offer and that of Tata Teleservices was hugely under-subscribed, as per data with bourses. The companies whose OFS shares were fully or over subscribed also included Advance Lifestyle, Novartis India, RDB Realty & Infrastructure and Saint-Gobain Sekurit India.

While Jet issue was subscribed 69.16 per cent, that of Essar Ports got bids for 89.73 per cent of shares on offer.

Tata Teleservices (Maharashtra) could get bids for only 20 per cent of shares offered to be sold through OFS. Earlier this month, Tata Sons cancelled a plan to sell shares through the OFS route in Tata Teleservices (M).

All the nine companies had offered to sell the shares through the one-day OFS route on the stock exchanges’ platform to meet SEBI guidelines for attaining a minimum 25 per cent public shareholding by June 3.

Adani Enterprises’ 1.6 crore share sale saw bids for 1.62 crore shares, translating into 100 per cent subscription.

The floor price for its promoters’ offer for sale of 1.6 crore shares had been fixed at Rs.227 a share. The company raised Rs.366 crore through the share sale.

Advance Lifestyle’s OFS received bids for 2.85 lakh shares against 1.30 lakh shares on offer. The company mopped up Rs.10 lakh through the stake sale.

The OFS of Essar Shipping was over-subscribed 1.09 times, raising Rs.34 crore.

Similarly, RDB Realty & Infrastructure share sale was subscribed 1.01 times. The offer to sell 7.20 lakh shares received bids for 7.29 lakh shares.

Saint-Gobain’s offer for sale was subscribed 3.11 times, raising Rs.11 crore, while Novartis’ OFS was over-subscribed 7.26 times.

On the other hand, Jet Airways offer to sell over 43.17 lakh shares via OFS was under-subscribed, enabling it to raise over Rs.222 crore.

As per the data available with the BSE, the issue received bids for 29.86 lakh shares till 1530 hrs, which is 69.16 per cent than the offer of 43.18 lakh shares.

The OFS of Essar Ports got bids for 2.03 crore scrips against 2.27 crore shares on offer.

Tata Teleservices’ 3.5 crore share sale got bids for just 68,771 shares. — PTI

Tata Teleservices (Maharashtra) could get bids for only 20 %