Today, post market hours, Orchid Pharma Ltd made an announcement on the Stock Exchanges.
The astonishing thing is that the Floor Price is 375 Rs/share which is a 72% discount to today’s close price of 1320 Rs/share.
Wonder what is the pricing rationale here.
One reply on “Orchid Pharma: 72% discount”
Very Interesting situation. Guess it’s just the fact that promoter holding has been close to 98% which means limited market float and hence such huge CMP (becomes easy to operate). Similar to Ruchi Soya. But agree, when promoters can sell at CMP(or can they not).. Why keep the OFS price so low.