Grid Equipments plans to sell a stake in GE Vernova T&D through an Offer For Sale (OFS) at a floor price of Rs 1,550 per share.

The OFS will involve a certain number of shares, representing a percentage of the paid-up equity capital, with a green shoe option allowing for an additional percentage, totaling up to a certain number of equity shares.

The sale is scheduled to open on a specific date and will last for a certain number of trading days, exclusively for non-retail investors, although a certain percentage of the shares will be reserved for retail investors.

In the September quarter, GE Vernova T&D reported a significant order book, marking a remarkable increase year-on-year.

JP Morgan India is acting as the broker for this OFS.

GE Vernova is the publicly listed entity for GE’s Grid Solutions business in India, contributing to the group's impressive revenue and employing a significant number of people across multiple countries.