EID Parry India on 26 April 2010 has signed a share purchase agreement with GMR Holdings for the acquisition of upto 1,29,75,110 but not less than 1,01,80,471 equity shares of GMR Industries (GIL) at a price of up to Rs. 57.35 per equity share of Rs. 10 each, constituting up to 65% but not less than 51% of the issued and paid up equity share capital of GIL. The company has also agreed to acquire the entire 1,28,31,880, 8% non-cumulative redeemable preference shares of Rs. 11 each at par.
Consequent to the above, the company will be making an open offer to the shareholders of GIL to acquire up to 39,92,342 equity shares of Rs. 10 each of GIL representing in aggregate 20% of the fully paid up equity capital of the said company at a price of Rs. 110.69 per fully paid equity share.
Source :www.biginfotech.in
Consequent to the above, the company will be making an open offer to the shareholders of GIL to acquire up to 39,92,342 equity shares of Rs. 10 each of GIL representing in aggregate 20% of the fully paid up equity capital of the said company at a price of Rs. 110.69 per fully paid equity share.
Source :www.biginfotech.in
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