GAGA Share Market News

[hfe_template id='11223'] [ad_1] Mumbai: UltraTech Cement's open offer for subsidiary India Cements has seen a rare oversubscription, thanks to its high offer price. Less than 5% open offers launched since 2015 in the country have been fully subscribed, data compiled by ET showed. The ₹390-per-share offer, open from January 8 to 21, was subscribed 110%. It will increase UltraTech's stake in India Cements to 81.49%. India Cements' shares closed at ₹295.15 on Friday, marking a nearly 22% gain in a year. "They were offering a very good value compared to the price at which they bought from the Damanis. So, ideally, anyone who has bought the shares at Rs 300 or below would like to tender their shares," said Mangesh Bhadang, analyst at Centrum Broking. UltraTech will now have to pare its holding in India Cements to less than 75% to comply with market regulator Securities and Exchange Board of India's minimum public shareholding norms. "We will no...

[hfe_template id='11223'] [ad_1] Shares of India Cements skyrocketed 11% to an intraday high of Rs 376.30 on the BSE after the Competition Commission of India (CCI) approved UltraTech Cement’s primary acquisition and the open offer for acquiring a 32.72% equity stake in the former. Meanwhile, the shares of UltraTech Cement rallied 1.4% to their day’s high of Rs 11,585.40 on the BSE. UltraTech’s board had previously approved the acquisition of 10.14 crore (10,13,91,231) shares of The Indian Cements from the promoters and other shareholders, which is the primary acquisition. Additionally, the company made an open offer to acquire 8.06 crore (8,05,73,273) shares of the company at a price of Rs 390 per share from the public shareholders. Also read: Nifty’s 200-DMA key level to watch, determine trend: Analysts “We now write to inform you that the CCI has by its letter dated 20th December 2024 unconditionally approved the Primary Acquisition and the Open Offer under Section 31...

[hfe_template id='11223'] [ad_1] Shares of ITD Cementation fell by 7.7% on Monday in an early trading session to their day’s low of Rs 491.55 on the BSE as Adani Group aims to acquire nearly a 73% stake in the company for approximately Rs 5,759 crore. This will be followed by an open offer to purchase an additional 26%, or 44.7 million shares, at Rs 571.68 per share from minority shareholders. If the open offer is fully subscribed, the Adani Group will invest around Rs 5,759 crore for a 73% stake in ITD Cementation, a leader in maritime structures and engineering projects. With this acquisition, the Adani Group will have completed a dozen acquisitions this year alone. This move will enhance the Gautam Adani-led conglomerate's in-house engineering, procurement, and construction (EPC) capabilities. Last week, Adani-owned Ambuja Cements announced it would acquire a 46.8% stake in Orient Cement, valuing the company at Rs 8,100 crore. ITD Cementation India Ltd., incorpora...

[hfe_template id='11223'] [ad_1] Markets regulator Sebi has exempted Spice Healthcare Pvt Ltd from making an open offer to SpiceJet shareholders in relation to acquisition of additional shares in the airline. On conversion of warrants that were issued to it, Spice Healthcare, a promoter group entity, would be acquiring an additional 13,14,08,514 equity shares in the airline. In this regard, SpiceJet had sought an exemption from Sebi with respect to making an open offer for the shareholders of the airline. The Securities and Exchange Board of India (Sebi), through an order on Friday, has given the exemption from making the open offer to Spice Healthcare subject to certain conditions, the airline said in a filing to BSE on Saturday. Post conversion of the warrants, Spice Healthcare will have an additional 13.74 per cent stake in the airline and that would trigger the open offer requirement under Sebi norms. The watchdog has given the exemption subject to the condition th...