At least five open offers were announced over the last fortnight. In some cases, trading was extremely thin with a few shares being traded.
On July 16, Inga Management and Investment Pvt Ltd announced that it has acquired 40,000 equity shares of Rs 10 each, representing 16.33 per cent of the paid-up equity share capital of Ishwar Textiles Ltd, under an agreement dated July 7.
A few days before, on July 12, Prakash Maheshwari & Sameer Maheshwari announced an open offer to the public shareholders of Noble Explochem Ltd to acquire 29,45,700 equity shares of Rs 10 each.
On the same day, Saleem Fazelbhoy & Amzel Pvt Ltd in compliance with Sebi regulations announced an offer to the fully paid-up equity shareholders of Amzel Automotive.
As on date of this public announcement, the acquirers held 5,16,009 fully paid-up equity shares of AAL representing 86 per cent of its total capital and voting capital of AAL.
On July 8, Chhattisgarh Electricity Company and Chhattisgarh Investments Ltd along with Sarda Agriculture & Properties Pvt Ltd and Prachi Agriculture & Properties Pvt and Kamal Kishore Sarda (PACs) made an open offer to the shareholders of Raipur Alloys & Steels Ltd to acquire up to 26,16,000 fully paid-up equity shares of Rs 10 each.
Kishore P Ostwal, managing director, Neil Information Technology, said,
