Crisil shares were locked in 20% upper circuit at Rs 1,127, after the company before market hours today, said McGraw-Hill Financial Holdings (Singapore) P. Ltd plans to acquire stake in the company at a premium to the current market price.
The offer price of Rs 1,210 per equity shares works out to a premium of nearly 29% to CRISIL's closing market price of Rs 939 on Friday.
McGraw-Hill Financial Holdings (Singapore) P. Ltd has made an voluntary offer to acquire 15.67 million shares, or 22.23% of the voting share capital of CRISIL at a price of Rs 1,210 per equity share.
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In case, McGraw-Hill Financial manages to acquire additional 22.23% stake through the voluntary offer its stake in CRISIL would increase to 75% from 52.77% as of now.
Over 60,000 shares were traded on both the stock exchanges so far while there are pending buy orders for 190,000 shares.
