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Our Bureau

Mumbai , Aug. 30

THE board of directors of Bajaj Hindusthan Ltd has approved the acquisition of a 55 per cent stake in Pratappur Sugar and Industries Ltd (PSIL) for Rs 10.89 crore.

Bajaj Hindusthan informed the BSE on Tuesday that it plans to acquire 19.80 lakh shares at a price of Rs 55 per share. The acquisition will be subject to the requisite compliance with the provisions of SEBI.

The company said its board has also approved an open offer to all the remaining equity shareholders of PSIL to acquire 7.20 lakh shares, representing the 20 per cent stake, at a price of Rs 56.80 per share.

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