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Corporate
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Indiabulls buys Piramyd shares
Mumbai, Jan 10
Indiabulls Wholesale Services Ltd informed the
Bombay Stock Exchange about the purchase of 40 lakh
equity shares of Piramyd Retail Ltd representing 20 per
cent of the paid up share capital of Piramyd, with
reference to the open offer for the acquisition of shares of
Piramyd made by Indiabulls.
The transfer happened in
terms of share purchase agreement through an offmarket
transaction at a price of Rs 31.29 which is less
than the open offer price of Rs 74.73. As a result of the
said transfer, the acquirer and Indiabulls Real Estate Ltd
have acquired 1,27,83,000 equity shares of Piramyd Retail
Ltd representing 63.92 per cent of the paid-up share
capital of Piramyd Retail Ltd. - Our Bureau
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