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"We are waiting for the open offer to complete before taking control," Texmaco chairman Saroj Kr Poddar told PTI.
"With over a 36.6% stake, we are at a comfortable position in Kalindee. But we want to be secured and so we are keen to hike our stake beyond 51%," Poddar said.
He said the company crossed a major hurdle after shareholders had approved special resolution through postal ballots to issue 24.9% fresh equity on a preferential basis to Texmaco.
Texmaco had already bought the Kalindee promoters's 11% stake earlier.
Though Poddar expects that the open offer for an additional 30% stake will be a success, the same is not linked to taking control in the railway infrastructure company.
Asked whether Texmaco will revise the open offer price from Rs 68 a share, Poddar said, "We have lot of time, we will decide later if required."
Jupiter Metal, which was also in the race to acquire Kalindee, had already made a counter-offer seeking to acquire 30% for Rs 70 apiece.
The open offer from Texmaco at Rs 68 a share will remain open till September 26, unless extended further.
