Crompton Greaves Consumer Electricals announces open offer to acquire 26% in Butterfly Gandhimathi Appliances Ltd

An Open Offer is being made for acquisition of up to 46,48,684 fully paid-up equity shares of face value of INR 10 (Indian Rupees Ten only) each ("Equity Shares") representing 26.00% of the Voting Share Capital of Butterfly Gandhimathi Appliances Limited ("Target Company") from the Public Shareholders of the Target Company at a price of Rs. 1,433.90 (Indian Rupees One Thousand Four Hundred and Thirty Three and Ninety Paise only) by Crompton Greaves Consumer Electricals Limited ("Acquirer").

The Open Offer is being made to the Public Shareholders in accordance with regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011, as amended ("SEBI (SAST) Regulations") pursuant to the substantial acquisition of shares, voting rights and control over the Target Company by Acquirer in accordance with and subject to the terms of the share purchase agreement ("SPA") entered by Acquirer with the Sellers and the Target Company on February 22, 2022.

Shares of Butterfly Gandhimathi Appliances Limited was last trading in BSE at Rs. 1395.90 as compared to the previous close of Rs. 1391.30. The total number of shares traded during the day was 41472 in over 2221 trades.

The stock hit an intraday high of Rs. 1419.00 and intraday low of 1385.45. The net turnover during the day was Rs. 57978557.00.

Shares of Crompton Greaves Consumer Electricals Limited was last trading in BSE at Rs. 408.40 as compared to the previous close of Rs. 378.60. The total number of shares traded during the day was 213972 in over 5787 trades.

The stock hit an intraday high of Rs. 410.40 and intraday low of 377.20. The net turnover during the day was Rs. 85594740.00.

Source : Equity Bulls

Keywords

ButterflyGandhimathiAppliances INE295F01017 CromptonGreavesConsumerElectricals INE299U01018 OpenOffer