Our Bureau

Mumbai, Dec. 1

THE Piramal Group has made an open offer to the shareholders of Dawn Mills Company Ltd at Rs 4,644 per share to acquire another 20 per cent holding in the company.

The group had earlier announced that it has acquired 52 per cent stake in Dawn Mills from its promoters, the Ruias.

Ambit Corporate Finance Pvt Ltd, manager to the open offer, informed the stock exchanges on Wednesday that the offer is being made by Alltime Mercantile Company Pvt Ltd, Newzone Mercantile Company Pvt Ltd, Superplaza Mercantile Company Pvt Ltd, Seastar Trading Company Pvt Ltd and Piramal Polymers Ltd.

The Piramal Group would be acquiring 50,000 shares of Rs 50 each from the existing shareholders of Dawn Mills. The specified date of the open offer is December 16. The offer opens on January 13 and closes on February 1, 2006.

(This article was published in the Business Line print edition dated December 2, 2005)
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