Fine Print

Overseas Travel Insurance High on Health Claims

ICICI Lombard’s analysis of travel...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Bajaj Loan: In 5 Minutes Online or in 5 Days Offline?

Bajaj Finserv claims that it will offer in-principle loan approval in 5 minutes flat online,...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Companies make Rs7,003-crore open offers to shareholders in April

This is the second highest value of offers made in a month since January 2013 when companies had made 11 open offers for Rs8,308 crore

Public shareholders received open offers worth a whopping Rs7,003 crore by listed companies in April—the second highest level in the year so far.

 

A total of 10 open offers for shares worth Rs7,003 crore were made by the companies in April to buy shares from public shareholders, as per the latest data compiled by the Securities and Exchange Board of India (SEBI).

 

This is the second highest value of offers made in a month since January 2013 when companies had made 11 open offers for Rs8,308 crore.

 

Besides, the amount is significantly higher compared to the four offers amounting to Rs135 crore in March, this year.

 

According to SEBI regulations, pursuant to substantial acquisition of shares or change in control in a listed firm, an acquirer has to make an offer to the public shareholders, known as open offers, so as to give them a fair opportunity to exit the company if they so wish to.

 

Open offers are made with the objective of change in control of management, consolidation of holdings or substantial acquisition in a company.

 

“Out of the 10 public takeover offers during April 2013, nine offers worth Rs6,977 crore were for consolidation of holdings while there was one offer worth Rs26 crore for change in control of management and none for substantial acquisition,” SEBI said.

 

As per the regulator’s latest monthly bulletin, six firms closed their offers in April, including one offer related to acquisition of 4.8 crore shares of United Spirits by Relay BV.

 

United Spirits shares were offered at a price of Rs1,440 apiece, amounting to Rs6,935.57 crore.

 

The other companies for which offers closed were—Orient Refractories, Mapro Industries, Shree Surgovind Tradelink, Archana Software and Hind Syntex.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)