The base price is at an over 15 percent discount over the yesterday's closing price of Rs 1,959.55 apiece.
The OFS is already subscribed 14 percent at an indicative bid price of Rs 1,726.35 per share. At the base price, these shares would be worth about Rs 471.52 crore.
Also Read: Gillette India profit drops 39% at Rs 15.14cr in July-Sept
The company's promoters are selling 28,57,744 equity shares of face value of Rs 10 each, aggregating to about 8.77 percent of the total paid up equity share capital of the FMCG firm, through the OFS route.
Gillette India was trading 4.81 percent higher at Rs 2,053.75 apiece on the BSE. It had hit a high of Rs 2,070 and a low of Rs 1,872 in trade today.
The OFS is part of the company's effort to comply with market regulator Sebi's minimum public shareholding norms.
Gillette India is jointly promoted by The Procter and Gamble Co and Poddar Group. Promoters hold 88.76 percent in Gillette.
The share-sale follows a prolonged regulatory battle between Gillette India's promoters and the Securities and Exchange Board of India (Sebi).
Gillette India stock price
On November 13, 2013, Gillette India closed at Rs 2057.70, up Rs 98.15, or 5.01 percent. The 52-week high of the share was Rs 2600.00 and the 52-week low was Rs 1872.00.
The company's trailing 12-month (TTM) EPS was at Rs 23.77 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 86.57. The latest book value of the company is Rs 199.24 per share. At current value, the price-to-book value of the company is 10.33.
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