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Tuesday, Sep 07, 2004

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BPB Holdings to offer Rs 120 per share of India Gypsum

Our Bureau

Mumbai , Sept. 6

BPB Holdings India Pvt Ltd has agreed to offer Rs 120 per share as exit price for shares of India Gypsum Ltd.

The price has been determined through the reverse book building process conducted on NSE in accordance with SEBI (Delisting of Securities) Guidelines - 2003.

Eaton rejects exit price: In another announcement Eaton Hydraulics Inc has rejected the exit price of Rs 185 per share for shares of Vickers Systems International Ltd.

"The exit price of Rs 185 determined in accordance with reverse book build process pursuant to SEBI (Delisting of Securities) Guidelines 2003 is not acceptable to the Acquirer," Eaton Hydraulics informed BSE. In the case of India Gypsum Ltd, its British promoters, BLB Holdings, had decided to buy out the remaining stake in the Indian company.

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