GMR Industries today said EID Parry India, which intends to purchase over 39.92 lakh equity shares of it through an open offer, would revise the commencement and closure dates for the offer.
The revised schedule of the open offer for acquiring 20 per cent stake in GMR Industries would be announced later after receiving Sebi approval, GMR Industries said in a filing to the Bombay Stock Exchange (BSE).
As per an announcement dated April 25, the open offer was supposed to open on June 18 and close on July 7. The company has not cited any specific reason for the change in the schedule.
EID Parry India (acquirer) has appointed Enam Securities as managers to the open offer, it said. The acquirer propose to acquire up to 39,92,342 equity
shares of Rs 10 each of GMR Industries at a price of Rs 110.69 per piece, it said. Sugar producer GMR Industries represents the agri-business division of the GMR Group.
Shares of the company closed at Rs 125, marginally up from the previous close on the BSE.
