Page 5 - Open Offer News Today

ISLAMABAD: Infrastructure Growth Capital Fund LP (IGCF) SPV 21 claims to own 53.8 per cent shares of KES Power...

Under the proposed transaction, respective settlors of Shakti Sons Trust, Shakti Brothers Trust and Shakti Future Trust -- Dinesh Patidar, Sunil Patidar and Ankit Patidar -- plan to transfer the shares held by them in Shakti Pumps by way of gift to the respective acquirer trusts.

Investegate announcements from Final Results

What hidden value do the promoters of Dabur see in Religare? And why is the financial services company resisting the stake sale?

Investegate announcements from Proposed Capital Raising

In an email sent to Sebi and bourses on November 8 that has been reviewed by ET, four entities - MB Finmart, Puran Associates, VIC Enterprises and Milky Investment and Trading Co - that collectively hold 21.24% in Religare said Sal chairperson Rashmi Saluja sold a portion of her personal holdings in the firm soon after a meeting with a representative of the Burmans.

Religares independent directors have alleged that the Burmans are in material breach of regulatory obligations that may harm the firm. Of the six-member board, five are independent. They are Malay Kumar Sinha, Hamid Ahmed, Praveen Kumar Tripathi, Ranjan Dwivedi and Preeti Madan. The board is led by executive chairperson Rashmi Saluja.

Religares independent directors have alleged that the Burmans are in material breach of regulatory obligations that may harm the firm. Of the six-member board, five are independent. They are Malay Kumar Sinha, Hamid Ahmed, Praveen Kumar Tripathi, Ranjan Dwivedi and Preeti Madan. The board is led by executive chairperson Rashmi Saluja.

The transaction, including an open offer, could be worth $1 billion

The offer price of ₹235 per share represents a premium of 21.91% over the stocks closing price on September 23