Promoter 3M Company, which holds 76 percent stake in the company as of December 2012, set floor price at Rs 3,300 per share, a discount 4.7 percent compared to Wednesday's closing price of Rs 3,462.75.
The OFS started at 9:15 am today and will remain open till 3:30 pm. Promoter will offload 1 percent equity in Indian arm via OFS.
At 10:28 hours IST, shares declined 1 percent to Rs 3,429 on Bombay Stock Exchange.
The share touched its 52-week high Rs 4,529.00 and 52-week low Rs 3,200.00 on 16 April, 2012 and 06 August, 2012, respectively.
Currently, it is trading 24.29% below its 52-week high and 7.16% above its 52-week low.
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