Referring to the UB group's recent public announcement intending to buy 25% stake in rival company Shaw Wallace, Desai said that after the open offer, share price of the takeover target had risen substantially. He added that investors would definitely benefit from such takoever bids.
On issues relating to investor protection, Desai said NIF had taken up such matters with authorities like Sebi and the Department of Company Affairs (DCA). He added that the foundation had also sought recognition from RBI, Sebi, the ministry of finance and DCA.
