Nirlon Ltd shares rose as much as 10.2 per cent in opening trade before quoting at Rs 169.70, up 5.67 per cent or Rs 9.10.
The Govt of Singapore Investment Corp (GIC) has acquired 63.9 per cent stake in the company for Rs 1,280 crore ($202.36 million), paying Rs 222 a share
The acquisition price is at 38 per cent premium to its Tuesday's closing price of Rs 160.60.