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Veedol OFS Withdrawn: Andrew Yule Shares Sale Suspended Over Compliance Issues

Updated: June 09, 2025 17:14

Image Source: The Andrew Yule Group
Andrew Yule & Company pulled out its Offer for Sale (OFS) of Veedol Corporation shares because of technical issues. Though, reports indicate that the seller's demat account got locked because of non-compliance, which halted the transaction.
 
Key Highlights:

Andrew Yule proposed issuing 2% holding (3.48 lakh shares) in Veedol Corporation.
 
OFS was scheduled for May 23 (non-retail investors) & May 26 (retail investors).
 
Floor price set at ₹1,566 per share, pegging Andrew Yule's stake at ₹770 crore.
 
Demat account suspension led to withdrawal, despite no technical glitches at NSDL/CDSL.
 
Volatility in stock predicted as investors respond to the last-minute cancellation.
 
This unprecedented event has triggered questions of diligence as sellers usually check trading accounts prior to announcing an OFS.
 
Source: Moneycontrol | CNBC TV18 | Free Press JournalAndrew Yule & Company pulled out its Offer for Sale (OFS) of Veedol Corporation shares because of technical issues. Though, reports indicate that the seller's demat account got locked because of non-compliance, which halted the transaction.
 
Key Highlights: Andrew Yule proposed issuing 2% holding (3.48 lakh shares) in Veedol Corporation.
 
OFS was scheduled for May 23 (non-retail investors) & May 26 (retail investors).
 
Floor price set at ₹1,566 per share, pegging Andrew Yule's stake at ₹770 crore.
 
Demat account suspension led to withdrawal, despite no technical glitches at NSDL/CDSL.
 
Volatility in stock predicted as investors respond to the last-minute cancellation.
 
This unprecedented event has triggered questions of diligence as sellers usually check trading accounts prior to announcing an OFS.
 
Source: Moneycontrol | CNBC TV18 | Free Press Journal

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