SEBI PERMITS RAJU TO GO AHEAD WITH SVCL OFFER
Article Abstract:
Mr BV Raju, the former chairman of Raasi Cement Ltd (RCL), and his associates have been permitted by the Securities and Exchange Board of India (Sebi) to proceed with their open offer to acquire a 20 percent stake in Sri Vishnu Cements Ltd (SVCL). Sebi has not yet taken any decision on the complaints filed by India Cements Ltd (ICL) and an RCL shareholder alleging illegal transfer of RCL's 39.5 percent holding in SVCL by Mr BV Raju to nine different investment companies before RCL was acquired by ICL. The open offer for a 20 percent stake in SVCL has been revised to Rs100 per share from Rs55 earlier. (khr)
Comment:
Is likely to see purchase of 20% stake in the co by BV Raju, former chairman of Raasi Cement, & his associates
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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ICICI SELLS 15 LAKH SVCL SHARES TO BV RAJU FOR Rs55 APICE
Article Abstract:
Industrial Credit and Investment Corporation of India (ICICI) has sold 1,505,600 shares of Shri Vishnu Cement Ltd (SVCL) to Dr BV Raju, the former chairman of Raasi Cements Ltd (RCL). These shares have been sold at Rs55 per share. The share price is more than Rs25 per share, the price offered by Dr BV Raju and his associates during the open offer on August 9, 1998. Dr BV Raju will now have to revise the open offer price to Rs55 per share as per the Securities and Exchange Board of India (SEBI) guidelines. (ag)
Comment:
Sells 1,505,600 shares of Shri Vishnu Cement to Dr BV Raju, former chairman of Raasi Cements, for Rs55 per share
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SVCL PROMOTERS TO CONSOLIDATE STAKE THROUGH OPEN OFFER
Article Abstract:
Dr BV Raju and associates, the promoters of Sri Vishnu Cement Ltd (SVCL) plan to acquire another 20 percent stake in the company. The promoters intend to buy 4,744,000 shares in the company at a price of Rs25 per share, through an open offer. The move is to prevent India Cements Ltd from holding a controlling stake in SVCL. The open offer will stay open from September 23, 1998 to October 22, 1998. (gs)
Comment:
Will sell 4,744,000 shares, or around 20%, at price of Rs25 per share to its promoters, Dr BV Raju & Associates
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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