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Open Offer by Piyushbhai N. Patel and two others to the shareholders of Ishan Dyes and Chemicals opens on Tuesday. They plan to acquire about 29.29 lakh shares, constituting 26 per cent of the fully paid-up equity share capital of the company at ₹50.55 a share. The mandatory open offer got triggered after the total promoter holding increased to 38.22 per cent from 24.59 per cent. The objective of the offer is to consolidate promoters’ holding in the company.
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