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Our Bureau

Chennai, June 26

The promoters of Chettinad Cement Corporation Ltd along with Chettinad Software Services Pvt Ltd have made an open offer to Chettinad Cement's shareholders to acquire 40.82 lakh shares representing a 13.84 per cent stake. According information provided to the stock exchange, the offer price is Rs 450 a share to be paid in cash. The offer is to open on August 17 and close on September 5. The promoters making the open offer are Dr M.A.M Ramaswamy who now holds 31.13 per cent, Mr M.A.M.R. Muthiah, who holds 18.94 per cent, and Ms Geetha Muthiah, who holds 23.57 per cent. The total promoters' stake is 76.21 per cent. Institutions hold 9.32 per cent, public 10.15 per cent and corporate bodies and others 14.47 per cent. On the exchange, the stock opened at Rs 435 and closed at Rs 436.05 after a high of Rs 441.

More Stories on : Open Offers | Cement

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