Gulf Petrochem's open offer for Sah Petroleums

Shares of Sah Petroleums will remain in focus, as the open offer from Gulf Petrochem Group kicks off on Friday. The UAE-based group plans to acquire up to 26 per cent stake (or 1.325 crore shares) in Sah Petroleums at a price of ₹15.70 a share. The open offer is scheduled to close on October 28. Gulf Petrochem Energy and Gulf Petrochem Pte Ltd had acquired 72.23 per cent stake in Sah Petroleums in July. The stock on Thursday closed at ₹30.90.