Balrampur Chini - Acquisition of Shares of Indo Gulf Industries

Balrampur Chini Mills Ltd has announced that pursuant to the Share Purchase Agreement dated August 18, 2006 & the subsequent open offer to the shareholders of Indo Gulf Industries Ltd, the Company has acquired 29.15% (including 26.42% under the Open Offer) of the equity shares of Indo Gulf Industries Ltd after completion of necessary formalities as required under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. Further 24.81% of the equity share capital would be acquired after getting necessary approval from the RBI/vacation of stay order of Hon'ble Court/ and completing other necessary formalities.

Source : Equity Bulls

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