Financial Daily from THE HINDU group of publications
Wednesday, May 04, 2005
Financial Daily from THE HINDU group of publications Wednesday, May 04, 2005 |
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Markets
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Open Offers IVRCL open offer to Hind Dorr-Oliver Our Bureau
Hyderabad , May 3 IVRCL Infrastructures & Projects Ltd has announced open offer to the public shareholders of Hindustan Dorr-Oliver. On behalf of the acquirer, UTI Securities Ltd, manager to the open offer, has informed the stock exchanges on Tuesday. IVRCL proposes to acquire 7,95,625 fully paid-up equity shares of Rs 10 each of Hindustan Dorr-Oliver, representing 18.8 per cent of paid-up equity, at a price of Rs 145.60 per share payable in cash subject to the terms and conditions. The acquirer has fixed May 27 as specified date. The offer would open on June 22 to close on July 11, the stock exchanges were informed.
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