Blue Dart gains on DHL's sale offer

Last Updated: Thu, Nov 22, 2012 09:36 hrs

Shares in Blue Dart Express gain 20 percent on hopes that plans by its main stakeholder DHL Express (Singapore) Pte Ltd to sell a 6 percent stake will attract strong demand, raising prices.

Blue Dart said on Wednesday DHL Express (Singapore), part of DHL, will sell 6 percent stake in the Indian air express courier firm via an offer-for-sale to comply with SEBI's regulation that all companies must have at least 25 percent public shareholding by next year.

DHL Express currently owns 81 percent in Blue Dart.

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