Blue Dart gains on DHL`s sale offer

Blue Dart gains on DHL's sale offer

Last Updated: Thu, Nov 22, 2012 09:36 hrs
The BSE building is reflected on a glass window as people look at a large screen displaying India's benchmark share index in Mumbai

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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