Shares of Avery India spurted 20 per cent to close at Rs 74.9, following the announcement that ITW Global Investments along with AV Co 3 (acquirers) have raised the offer price to Avery’s shareholders from Rs 62.5 a share to Rs 81.
Due to the increase in the open offer price, the acquirers have made an additional cash deposit of around Rs 1.68 crore to its existing sum of Rs 15.93 crore in the escrow account. The stock hit an intra-day high of Rs 74.9.
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