š« OFS Aborted! Andrew Yule Pulls Plug on Veedol Share Sale ā Glitches, Not Ghosts
By Prashant Marathe | EduInvesting | 23 May 2025
š At a Glance Andrew Yule & Company (yes, the legacy PSU still around) had big plans to offload its stake in Veedol Corporation Ltd (formerly Tide Water Oil).
But just a day after announcing itā¦ š„ they pulled the offer.
š What happened?
āWhy it matters?
Veedol OFS (Offer for Sale) was supposed to go live
Big PSU disinvestment move cancelled
Shares couldnāt be transferred to NSE Clearing Corp
āTechnical glitchesā cited ā details not disclosed
Notice dated May 22, withdrawn on May 23
A 24-hour turnaround ā thatās fast, even for government
š§¾ The Official Lingo
In classic PSU tone, the letter said:
āDue to unavoidable circumstances… shares could not be transferred to NSE Clearing Corporation Ltd. due to some technical glitches.ā
And with that, the OFS is postponed until further notice.
