HB Stockholdings open offer for DCM Shriram

HB Stockholdings, a non-banking finance company dealing in securities, has made an open offer to the shareholders of DCM Shriram Industries for acquiring 22.88% of fully paid-up equity share capital at a price of Rs 70 per share in cash.

HB Stockholdings will have to acquire 35 lakh shares for the 22.88% stake in DCM Shriram Industries. The offer opens on January 3, 2008 and closes on January 24, 2008.

Mefcom Capital Markets is the manager to the offer.