Antelopus Energy to buy controlling stake in Selan Exploration; stk up 20%

Blackbuck Energy Investments, a holding entity of Antelopus, has also launched an open offer to buy as much as 26 per cent stake from public shareholders of the company

Shares of Selan Exploration Technology were locked in the 20 per cent upper circuit band at Rs 183.40 on the BSE on Monday after Antelopus Energy agreed to acquire a 21 per cent stake in the oil exploration and production firm at Rs 200 per share.

The promoters of Selan Exploration on Thursday, March 17, 2022 executed a Share Purchase Agreement with Blackbuck Energy Investments Limited for the sale and purchase of not less than 3.19 million equity shares at a price of Rs. 200 per share, representing 21 per cent of the equity share capital of the company.

Blackbuck Energy Investments is a holding entity of Antelopus. Meanwhile, Antelopus, backed by private equity firms, Oak tree Capital and ICE Canyon Capital have launched an open offer to buy as much as 26 per cent stake from public shareholders of the company.

As on December 31, 2021, the promoters – Raj Kapur, Rohni Kapur and Winton Roavic LLP- collectively held 30.09 per cent stake in Selan Exploration. Among public shareholders, individual or retail shareholders held 53.56 per share holding, data shows.

Till 02:16 pm, a combined 710,000 equity shares had changed hands and there are pending buy orders for 1.4 million shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.74 per cent at 57,437 points.