Financial Services Stock Delphi Gains Nearly 6 pc in 5 Days on OFS Announcement

Financial services stock Delphi surged as much as 6 per cent in the last five days, as per data on the National Stock Exchange (NSE). The counter settled in green to quote at Rs 390.05, up by Rs 13.70 or 3.64 per cent on the NSE.
Financial Services Stock Delphi Gains Nearly 6 pc in 5 Days on OFS Announcement

Financial Services Stock Delphi Gains Nearly 6 pc in 5 Days on OFS Announcement

Financial services stock Delphi surged as much as 6 per cent in the last five days, as per data on the National Stock Exchange (NSE). The counter settled in green to quote at Rs 390.05, up by Rs 13.70 or 3.64 per cent on the NSE. The scrip moved north by 5.70 per cent. The scrip's 52-week range is Rs 473.15 - Rs 264.10 on the NSE.
The stock experienced a significant surge following the announcement of the promoter, EbixCash World Money Ltd., regarding the Offer for Sale (OFS). Delphi World Money's promoter, EbixCash World Money, aims to sell over 16 lakh equity shares of the face value of Rs 10 each, representing 14.55 per cent of the total paid up equity share capital of the company. This divestment will take place through an OFS using a dedicated window provided by the Bombay Stock Exchange (BSE), as detailed in an official filing. The bidding window is scheduled to be open for a two-day period.
Starting Monday, December 18, 2023 (T), non-retail investors are eligible to participate in the offering, with bidding allowed between 9:15 am and 3:30 pm. Subsequently, on Tuesday, December 19, 2023 (T+1), retail investors can submit their bids. It is crucial to emphasize that investor trading activities are confined to these specified dates. The company underscores the importance of adhering to the prescribed timeline, assuring that the offering will strictly follow the stipulated schedule.
Founded in 1985, Delphi World Money Limited erstwhile EbixCash World Money India Ltd, a subsidiary of EbixCash World Money Limited, is a leading Foreign Exchange Services Company based out of Mumbai, India. The company offers innovative, customized, and integrated financial solutions, relating to Foreign Exchange Services, Outward & Inward Remittances, Prepaid Cards, Gift Cards, and Travel Insurance needs of our corporate and retail clients with over 70 branches spread across cities.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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