Delphi World Money shares rebound as company announced OFS

Shares of Delphi World Money Ltd rebounded 7 per cent during the trading session on Thursday after the company announced an offer-for-sale (OFS) by its promoter EbixCash World Money Ltd. The company informed about the same through an exchange filing on Wednesday.

EbixCash World Money, the promoter of Delphi World Money shall be offloading 16.30 lakh equity shares or 14.65 per cent stake of the company on the day of OFS through a separate window provided by the BSE, said the company in an exchange filing. The bidding shall be open for two days, it said.
 

For non-retail investors the issue will open on Monday, December 18, 2023 (T), who can make bids between 9.15 am to 3.30 pm, while retail investors can bid for the issue on Tuesday, December 19, 2023 (T+1). The trading by investors shall be strictly made on the given dates only.

The floor price for the issue has been set at Rs 304 apiece, wherein retail investors can not apply for shares worth Rs 2 lakh maximum. SMC Global Securities has been acting as the settlement broker for the issue. There is no discount for the retail investors of the issue.
 

Following the announcement, shares of Delphi World Money rebounded 7 per cent to Rs 374.05 on Thursday, from day low at Rs 349 apiece, with a total market capitalization close to Rs 419. The stock was up 5 per cent from its previous close Rs 354.20 on Wednesday.

Mumbai-based Delphi Word Money is a leading foreign exchange services company, which offers integrated financial solutions relating to foreign exchange services, outward and inward remittances, prepaid cards, gift cards and travel insurance needs of its corporate and retail clients.

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