Everest Organics: open offer begins

Shares of BSE-listed Everest Organics will remain in focus, as the open offer from acquirers begins on Friday. Dr Sri Kakarlapudi Srihari Raju and Veerat Finance and Investment plan to acquire 20.8 lakh shares at ₹18 a share. The offer is being made pursuant to conversion of the loan into equity shares. The stock is hovering at around ₹61. Currently, about 9,950 small shareholders hold 13.12 lakh shares (18 per cent stake) in the company. The offer closes on November 4.