Meanwhile, the S&P BSE Sensex was down 115.70 points, or 0.59%, to 19,644.60.

On BSE, 1.65 lakh shares were traded in the counter as against an average daily volume of 36,592 shares in the past one quarter.

The stock hit a low of Rs 168.20 so far during the day, which is also 52-week low for the counter. The stock hit a high of Rs 183 so far during the day. The stock had hit a 52-week high of Rs 319.55 on 5 July 2012.

The stock had underperformed the market over the past one month till 31 May 2013, falling 1.23% compared with the Sensex's 1.31% rise. The scrip had also underperformed the market in past one quarter, sliding 7.90% as against Sensex's 4.77% rise.

The small-cap company has an equity capital of Rs 72.16 crore. Face value per share is Rs 10.

BGR Energy Systems' promoters have offered 6.13% stake, comprising 44.22 lakh shares, in the company through offer for sale (OFS) route on stock exchanges today, 3 June 2013, to meet the minimum public shareholding norms. The OFS opened at 9:15 IST today, 3 June 2013 and it will close at 15:30 IST.

As at 14:45 IST, the OFS got bids for 4.57 lakh shares, compared with 44.22 lakh shares on offer, as per data from the stock exchanges. The OFS was subscribed 10.34% at an indicative bid price of Rs 163.25 per share. The floor price for OFS is fixed at Rs 163 per share.

As on 31 March 2013, promoters held 81.13% stake in BGR Energy Systems. The OFS is aimed at complying with the minimum public float rule. Market regulator Securities & Exchange Board of India (Sebi) has mandated minimum public shareholding of 25% for private companies and 10% for state-run firms. As per the Sebi mandated minimum public shareholding rule, private-sector companies must cut founders' stake to adhere to the rules by 30 June 2013.

BGR Energy Systems' net profit declined 19.83% to Rs 53.85 crore on 6.58% decline in net sales to Rs 1062.88 crore in Q4 March 2013 over Q4 March 2012.

BGR Energy Systems is a leading company in the business of turnkey engineering and contracting for balance of plant (BoP) and full service engineering, procurement and construction (EPC) for power projects in India and LSTK contracts for oil and gas projects in India and abroad.