Open offer for Aarti Surfactants Ltd at Rs. 284

Ms. Jaya Chandrakant Gogri ("Acquirer 1") and Nikhil Holdings Private Limited ("Acquirer 2") (Collectively referred to as "Acquirers") have announced open offer to acquire upto 1971965 Equity shares of Rs. 10/- each for cash at a price of Rs. 284/- aggregating upto Rs. 56,00,38,060 (Rupees Fifty Six Crores Thirty Eight Thousand and Sixty only), to the Public shareholders of Aarti Surfactants Limited ("Target Company") in accordance with the extant Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("Takeover Regulations") ("Open Offer").

The acquirers entered into a share purchase agreement to acquire 6,91,606 equity shares representing 9.12% of fully paid-up equity share capital and voting capital of the company at a price of Rs. 284 per share.

The acquirer also placed a purchase order with their respective brokers to acquire 7,25,000 equity shares representing 9.56% of fully paid-up equity share capital and voting capital of the company at a price not exceeding Rs. 284 per share from promoters through block deal.

The acquirer also placed a purchase order with their respective brokers to acquire 5,00,000 equity shares representing 6.59% of fully paid-up equity share capital and voting capital of the company at a price not exceeding Rs. 284 per share from open market.

Shares of AARTI Surfactants LTD. was last trading in BSE at Rs. 284.60 as compared to the previous close of Rs. 271.05. The total number of shares traded during the day was 22478 and the deliverable quantity was 22478.

The stock hit an intraday high of Rs. 284.60 and intraday low of Rs. 284.60.

Source : Equity Bulls

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