Open offer at Rs 12 per share for 26 percent stake in India Cements Capital

Open Offer TriggeredListed Co AcquisitionStrategic Transactions View source PDF

Price

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Price reaction · full curve 14 horizons · vs prior close

+3.9%1-day move

₹19.53

prior close

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AI summary

Sandeep Jain, Vikas Garg, and Rahul Nagar along with PAC Neha Agarwal are acquiring 50.02 percent stake from promoter Sri Saradha Logistics at Rs 12 per share, totaling Rs 13.03 crores. This triggers a mandatory open offer for an additional 26 percent (up to 56.43 lakh shares) from public shareholders at Rs 12 per share, with total consideration of Rs 6.77 crores. The offer is subject to RBI approval as the target is an authorised dealer Category II. Fintellectual Corporate Advisors is the manager.

Likely market impact

Change of control at Rs 12 per share. Public shareholders can tender shares. RBI approval pending. Stock may see volume activity.