Mangalore Chemicals zooms 20% on upward revision in offer price by Deepak Fertilisers

Mangalore Chemicals and Fertilisers (MCF) is locked in upper circuit of 20% at Rs 87.70 on National Stock Exchange after Deepak Fertilisers revised its offer price upwards to acquire stake in MCF.

Deepak Fertilisers has revised its open offer to acquire additional 26% stake in MCF from Rs 63 per share to Rs 93.60 per share.

Meanwhile, Zuari Industries along with United Breweries (Holdings) and Kighfisher Finvest India have also revised their open offer to Rs 81.60 per share from Rs 68.55 per share, MCF said in a statement.

A combined 3.2 million shares changed hands on MCF counter. There are pending buy orders for 820,000 shares on NSE and BSE at 1125 hours.