Open Offer at Rs 12 per share to acquire 26 percent in India Cements Capital
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Three buyers — Sandeep Jain, Vikas Garg, and Rahul Nagar — along with PAC Neha Agarwal, have triggered a mandatory open offer for up to 56,43,612 shares (26 percent) of India Cements Capital at Rs 12 per share, about Rs 6.77 crores in total. This follows a Share Purchase Agreement to buy 50.02 percent from promoter Sri Saradha Logistics at the same price of Rs 12, totalling about Rs 13.03 crores. Post-deal the buyers will hold about 68.45 percent. RBI approval is required.
Public shareholders can tender shares at Rs 12 per share in cash. Deal subject to RBI approval. Shares infrequently traded, so Rs 12 is the floor price.