The mandatory open offer from EbixCash to acquire the remaining 25.16 per cent from Weizmann Forex’s public shareholders opens on Wednesday. The Nasdaq-listed company plans to buy 27.99 lakh shares at ₹528 a share. Earlier, EbixCash World Money Ltd, an Indian subsidiary of US-based Ebix Inc, had entered into an agreement to acquire a 74.84 per cent controlling stake in Weizmann Forex for ₹439.75 crore. The open offer concludes on June 19.
What to watch: Weizmann Forex: Open offer begins
Published on
June 5, 2019 00:30
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