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Shares of Tide Water Oil will react to the open offer announcement, which came after market hours on Tuesday.
Standard Greases and Specialities Pvt Ltd along with Janus Consolidated Finance Pvt Ltd, Alpha TC Holdings Pte Ltd and Tata Capital Growth Fund plan to acquire up to 2.265 crore shares (or 26 per cent in the company).
The offer price has been fixed at ₹16,632 a share. LIC and United India Insurance hold 4.22 per cent and 6.88 per cent respectively, in the company.
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