Kalindee Rail Nirman (Engineers) has rallied 8% to Rs 66 after Jupiter Metal made an open offer to acquire 30% stake in the company for Rs 24.17 crore.
“Jupiter Metal has made an open offer to acquire 3.72 million equity shares of Rs 10 each, constituting 30% of the paid-up capital of Kalindee Rail Nirman (Engineers) at price of Rs 65 per share,” Ashika Capital, the manger of open offer said in a BSE filing.
The offer is subject to a minimum level of acceptance of 3.22 million equity shares constituting 26% of the paid-up and voting capital of the company, it added.
Currently, about 38,000 individual shareholders control 63.75% stake in the company. Promoters have 15.6% stake, while Jupiter Metal does not hold any stake in Kalindee Rail.
The stock opened at Rs 63.65 and touched high of Rs 66.70 on NSE. A combined 536,271 shares have changed hands on the counter so far on NSE and BSE.
“Jupiter Metal has made an open offer to acquire 3.72 million equity shares of Rs 10 each, constituting 30% of the paid-up capital of Kalindee Rail Nirman (Engineers) at price of Rs 65 per share,” Ashika Capital, the manger of open offer said in a BSE filing.
The offer is subject to a minimum level of acceptance of 3.22 million equity shares constituting 26% of the paid-up and voting capital of the company, it added.
Currently, about 38,000 individual shareholders control 63.75% stake in the company. Promoters have 15.6% stake, while Jupiter Metal does not hold any stake in Kalindee Rail.
The stock opened at Rs 63.65 and touched high of Rs 66.70 on NSE. A combined 536,271 shares have changed hands on the counter so far on NSE and BSE.
