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India: Sri Vishnu Cements.
Recommendation: Accept
SHAREHOLDERS of Sri Vishnu Cements can accept the open offer at a price of Rs. 98.25, and tender their shares as this may be the last exit opportunity. India Cements, Raasi Cement and ICL Securities are coming out with a second open offer for the shareholders of Sri Vishnu Cements.
This open offer follows the acquisition of a controlling stake by India Cements from the B.V. Raju group. The acquisition of the controlling stake was followed by an open offer in December 1999-January 2000.
Further to this open offer, the shareholding of ICL Securities and persons acting in concert with it increased to 93.02 per cent in the equity …
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