Dashtag makes open offer for additional 20 pc
In order to further consolidate its stake in Fulford India, UK-based Dashtag has made an open offer to the shareholders for acquiring 20 per cent stake in the pharma company.
By PTI |
MUMBAI: In order to further consolidate its stake in Fulford India, UK-based Dashtag has made an open offer to the shareholders for acquiring 20 per cent stake in the pharma company.
Dashtag proposes to acquire 7.8 lakh shares, which is about 20 per cent stake of the post preferential issue capital in Fulford, at an offer price of Rs 575 per share in cash, the company informed the Bombay Stock Exchange.
The offer opens on January 10, 2007 and would close on January 29.
In October, Fulford India approved a preferential allotment of seven lakh shares to Dashtag at Rs 575 per share.
As on March 31, Dashtag held 40 per cent stake in the company. Ambit Corporate Finance Pvt Ltd is the manager to the offer.
Shares of Fulford India were trading at Rs 580.05, down 0.19 per cent on the BSE.
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