Comments
Chettinad Cement has acquired 20.58 per cent stake in Anjani Portland Cement Ltd from its promoter KV Vishnu Raju.
As per the information given to the BSE on Wednesday, the acquisition was done in an off-market transaction and 37,84,014 shares were acquired by the Chennai-based Chettinad at ₹61.75 a share on Tuesday.Post the transaction, shareholding of Chettinad had gone up from 20.58 per cent to 41.16 per cent. It may be recalled that on May 15 Chettinad made an open offer to acquire over 47.81 lakh shares of the Hyderabad-based company at ₹61.75 an equity share.
The proposal to acquire Anjani was announced in March.
Anjani’s scrip gained 0.78 per cent to close at ₹58 on the BSE on Wednesday.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.