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IT stock under ₹25 jumps after its promoter to sell 6.29% stake in the company via OFS

Penny stock is offering 1,91,57,519 equity shares (6.29% of share capital) via OFS on January 14-15, 2025, to meet public shareholding requirements and comply with SEBI regulations.
IT Stock Under ₹25 Surges as Promoter Announces Sale of 6.29% Stake via OFS.
IT Stock Under ₹25 Surges as Promoter Announces Sale of 6.29% Stake via OFS.

Introduction:

Penny stock announces an Offer for Sale (OFS) of 1,91,57,519 equity shares, representing 6.29% of its total share capital, scheduled for January 14-15, 2025. This move aims to fulfill public shareholding requirements and comply with SEBI regulations.

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Also Read: PSU stock jumps after company receives order worth ₹561 Cr for fire control system

Share price movement of Bartronics India:

On January 14, 2025, Bartronics India Ltd opened at ₹22.40, unchanged from its previous close. The stock reached a high of ₹23.50 (+3.75%) and a low of ₹22.16. At 12:05 PM, it traded at ₹23.24, reflecting a 3.75% increase, with a market cap of ₹703.57 crore.

Bartronics India Announces Equity Share OFS:

Bartronics India Ltd, through its promoter M/s. Kinex India Private Limited, is offering 1,91,57,519 equity shares (6.29% of total share capital) via an Offer for Sale (OFS) on January 14-15, 2025. This sale aims to meet public shareholding requirements.

Also Read: January Effect: A Myth or a Reality? A Delve into the World of Stock Market

The OFS will be conducted on separate windows provided by NSE and BSE, with BSE serving as the designated stock exchange. The transaction will help the company comply with regulations under SEBI and Securities Contracts (Regulation) Rules, 1957, ensuring the minimum public shareholding.

Kinex India Private Limited, the seller, will complete the OFS to ensure compliance with SEBI’s listing regulations. Interested investors are urged to review the complete notice and SEBI guidelines before participating. Brokers will facilitate the sale via NSE Clearing Limited.

Check Out: List of All BSE and NSE Stocks

Recent news on Bartronics India:

As of January 08, 2025, Bartronics India announced a strategic MoU with Singapore’s PTW Group to advance India’s semiconductor sector. This collaboration aims to establish facilities for semiconductor fabrication, equipment production, and workforce training, bolstering India’s technological growth.

Stock performance of Bartronics India for Period of 1 week, 6 months and 1 year:

Bartronics India Ltd has seen a decline of 5.05% over the past week, but has shown a positive performance with a 7.70% return over the last 6 months and a 7.34% increase over the past year.

Also Read: Why are Adani Group stocks up by 10% today?

Shareholding pattern of Bartronics India:

All values in %Sep 2024Jun 2024Mar 2024
Promoter85.60%89.80%90.00%
FII0.00%0.00%0.00%
DII0.20%0%0%
Public14%10.00%9.80%
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About Bartronics India:

Bartronics India Limited (NSE: ASMS) is a pioneer in Automatic Identification and Data Collection (AIDC) solutions in India. Founded in 1990, the company specializes in bar coding, biometrics, RFID, and smart card technologies, and expanded globally through partnerships.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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