POOR RESPONSE TO KIRLOSKAR COMPUTER'S PUBLIC OFFER
Article Abstract:
The response to the open offer made by Sri Vijayadurga Investments and Agencies Pvt Ltd (SVDIAPL) to buy back 43.36 percent shares of Kirloskar Computer Services Ltd (KCSL) from the public has been very poor. SVDIAPL is a Kirloskar owned company. It has succeeded to get back only 12-13 percent of KCSL shares from the public. This has helped the Kirloskar group companies to rise their stake in KCSL from 56.64 percent to 69 percent. SVDIAPL had offered Rs17.50 for KCSL shares in September 1998 when the scrip was quoting Rs12 on the Bangalore Stock Exchange. But this price has failed to attract the public to sell their stake. (um)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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ASIAN PAINTS REJECTS SHARE TRANSFER TO KOTAK MAHINDRA
Article Abstract:
Asian Paints (India) Ltd (APIL), a leading paint manufacturing company, has refused to transfer its 18.33 lakh equity shares in favour of Kotak Mahindra Capital Company Ltd (KMCC). ICI Plc (ICIP) of UK, had earlier purchased 9.1 percent of the equity shares of APIL (on behalf of KMCC) with a view to destabilise the operations and management of APIL. APIL being a direct competitor of ICIP's subsidiary ICI India Ltd, is rejecting to transfer these shares to KMCC on the grounds that the move will affect the stability of the company. (gs)
Comment:
Asian Paints refuses to transfer 18.33 lakh equity shares in favor of this co on grounds that it will affect stability of former
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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