What to Watch. Open offer to keep Uniply Ind in focus

An open offer from Keshav Kantamneni to the shareholders of Uniply Industries will open on Thursday and end on May 27. Kantamneni plans to buy a 26 per cent stake (45,01,574 equity shares) for ₹13.50 a share. The committee of independent directors has said the offer price is fair and reasonable. As the share price hovers around ₹22, investors’ response would be interesting to watch. As of March-end, about 5,600 individuals hold a 21.50 per cent stake in Uniply.