Veedol OFS Withdrawn By Promoter, Sale Called Off Before Launch Newspoint  |  23/05/2025 18:39:14

Mumbai: Andrew Yule & Company Limited, a promoter of Veedol Corporation Limited (formerly Tide Water Oil Co. (I) Ltd.), has officially withdrawn its previously announced Offer for Sale (OFS) of equity shares. The plan was to sell up to 3,48,480 shares, which equals 2 per cent of the company’s total equity capital. The sale was scheduled on May 23, 2025, for Non-Retail Investors and May 26, 2025, for Retail Investors.

This OFS was to be conducted through the stock exchanges BSE and NSE under SEBI’s guidelines. The sale aimed to offer shares through a special trading window, with options for Non-Retail Investors to carry forward their unallotted bids to the next day.

However, on May 23, 2025, Andrew Yule & Company Limited sent a letter stating that it has decided not to go ahead with the share sale. As a result, the planned OFS has been officially withdrawn before trading could begin.

This information follows a previous announcement (notice no. 20250522-30) made on May 22, 2025, which detailed the OFS structure and schedule. All trading and custodian members of the exchange have been advised to take note of this change.

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