Open Offer for Styrolution ABS India Limited at Rs. 499.81

Kotak Mahindra Capital Company Ltd ("Manager to the Open Offer") has made a Public Announcement regarding Open Offer for Acquisition of up to 4,396,407 fully paid-up equity shares of the face value of Rs 10 each ("Equity Shares") for public shareholders of Styrolution ABS (India) Limited (the "Target Company") by Styrolution South East Asia Pte Ltd. (the "Acquirer") along with INEOS Styrolution Holding GmbH ("PAC 1") and Styrolution Group GmbH ("PAC2) (PAC 1 and PAC 2 are collectively referred to as "PACs"), under Regulations 3 and 4 and 5(1) read with Regulation 13(2)(e), Regulation 15(1) and other applicable Regulations of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (the "SEBI (SAST) Regulations").

The Offer is for 4,396,407 Equity Shares (each an "Offer Share") representing 25% (twenty five per cent) of the Voting Share Capital (the "Offer Size") of the Target Company as of the 10th (tenth) working day from the date of closure of the tendering period.

The Offer Price is Rs 499.81 per Offer Share ("Offer Price").

Shares of STYROLUTION ABS (INDIA) LTD. was last trading in BSE at Rs.580.3 as compared to the previous close of Rs. 582.6. The total number of shares traded during the day was 2561 in over 464 trades.

The stock hit an intraday high of Rs. 590 and intraday low of 575.1. The net turnover during the day was Rs. 1495721.

Source : Equity Bulls

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