 "Polaris Consulting dips ahead of closure of open offer by Virtusa Corporation")
Polaris Consulting & Services has dipped 6% to Rs 200, its lowest level since November 27, 2015 on the BSE, ahead of closure of open offer made by US-based technology outsourcing company Virtusa Corporation on Monday, March 28.
Virtusa Consulting Services Private Limited along with Virtusa Corporation has made an open offer to acquire 26.72 million equity shares constituting 26% stake in Polaris Consulting & Services at Rs 220.73 a share. The offer opened on March 11 and will close on March 28.
According to BSE website, shareholders have tendered a total of 18.07 million shares, representing 67.63% of the proposed open offer for 26.7 million shares. CLICK HERE TO READ FULL DETAILS
At 02:52 PM, the stock was down 5% at Rs 202 on the BSE as compared to 0.19% decline in the S&P BSE Sensex. A combined 120,856 shares changed hands on the counter on the BSE and NSE.
Virtusa Consulting Services Private Limited along with Virtusa Corporation has made an open offer to acquire 26.72 million equity shares constituting 26% stake in Polaris Consulting & Services at Rs 220.73 a share. The offer opened on March 11 and will close on March 28.
According to BSE website, shareholders have tendered a total of 18.07 million shares, representing 67.63% of the proposed open offer for 26.7 million shares. CLICK HERE TO READ FULL DETAILS
At 02:52 PM, the stock was down 5% at Rs 202 on the BSE as compared to 0.19% decline in the S&P BSE Sensex. A combined 120,856 shares changed hands on the counter on the BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%