The race for Kalindee Rail Nirman has escalated to the next level with Om Kothari group revising its open offer price . The company-Jupiter Metal- has revised its open offer price to Rs 70 for each equity share for buying 30% stake in Kalindee Rail Nirman.
The move comes after Saroj Poddar led Texmaco acquired the promoter stake in the company and proposed an open offer to buy further 30% stake in Kalindee Rail Nirman at price of Rs 68 for each share on last Saturday.
"In terms of Regulation 18(4) of SEBI (SAST) Regulations, 2011, by this Addendum the Acquirer makes the revision in the Offer Price per equity share to Rs. 70/- (Rupees Seventy only), payable in cash for all the valid acceptances in the Offer," Jupiter Metal said in filing to BSE.