Will open offer trigger action in Wheel & Axle?

The open offer for Wheel & Axle Textiles' shareholders from Vasudev Fatandas Sawlani and others will open on Tuesday. They plan to mop up 1.255 lakh shares at ₹193.05 a share. Just 161 investors hold 1.72 per cent stake in the firm. As the share was last traded at ₹1,071 in April 2010, the response to the offer remains to be seen. However, one Corporate Body’s decision is vital, as it owns 23.38 per cent stake. There are no reports of any share trading ban.