Wimco hits the roof on open offer buzz

DALAL STREET SPIKES

Wimco hit the 20 per cent upper circuit limit at Rs 40.65 after the Supreme Court rejected its Swedish parent's appeal for an exemption in making an offer to the Indian shareholders.

The prospects of the open offer was what propelled the price of the scrip, dealers said. The open offer is expected to be made at a price of Rs 35 per share, further an interest at the rate of Rs 20 per share would also be payable to the shareholders from the effective date.

Volumes in the counter on the BSE was in excess of one lakh shares.