Open offer at Rs 41.30 per share for 15.84% stake in Prabhhans Industries
Price
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Acquirers led by Exigo Recycling Pvt Ltd along with three individuals have triggered a mandatory open offer for up to 54,82,248 shares of Prabhhans Industries at Rs 41.30 per share, totaling about Rs 22.64 crore. The offer covers 15.84 percent of expanded voting capital. It follows a proposed preferential issue of 2.83 crore shares to the acquirers. Post-offer, the acquirer group will hold 90.75 percent and gain control as new promoters. The company is listed on BSE under Enhanced Surveillance Measure.
Public shareholders can tender shares at Rs 41.30 per share. Acquirers set to take control and become new promoters of the company.