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The open offer from Rahul Gupta along with Sameer Gupta to acquire up to 79.56 lakh shares or 26.09 per cent stake in Best Steel Logistics at ₹120 a share will open on Wednesday and close on April 24. On January 29, the board had approved a preferential allotment of 72 lakh shares and 43 lakh convertible warrants to the acquirer, pursuant to which the shareholding of the acquirer rose to 31.25 per cent from 4.49 per cent, triggering the open offer obligation.
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