Friday, December 7, 2012

WELSPUN SYNTEX LTD. - News of Open Offer

Prime Securities Ltd ("Manager to the Open Offer") has submitted to BSE a Copy of Open Offer for acquisition of upto 1,02,02,288 (One Crore Two Lacs Two Thousand Two Hundred Eighty Eight Only) Equity Shares of Welspun Syntex Ltd ("Target Company") from the Public Equity Shareholders of the Target Company representing 26% of the Post Conversion Equity Share Capital of the Target Company as of 10th Working day fromn the Closure of the tendering period under this Offer by Krishiraj Trading Ltd ("Acquirer") along with Welspun Mercantile Ltd ("Person Acting in Concert" or "PAC"), in accordance with Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("SEBI (SAST) Regulations").

The Offer Price of Rs. 13.00/- (Rupees Thirteen Only) per fully paid up Equity Share.

Let's watch the movement of this stock. Ideally, this should impact the stock positively.

Regards,Value Stock Picker

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