Deepak Fertilisers And Petrochemicals Corporation (DFPCL) announced on Wednesday that JM Financial Institutional Securities (open offer manager) has submitted a copy regarding open offer for acquisition of up to 30 million equity shares of Mangalore Chemicals & Fertilizers (MCF) from the public shareholders by SCM Soilfert (acquirer) together with Deepak Fertilisers with SCM Soilfert.
The SCM Soilfert and DFPCL make this open offer to the public shareholders of Mangalore Chemicals to acquire up to 30 million fully paid up equity shares of face value of Rs 10 each, constituting 26% of the voting share capital
The offers price of Rs 61.75 a offer share, aggregating to a consideration of upto Rs 1.90 billion assuming full acceptance.
Shares of the company gained Rs 6.45, or 5.36%, to trade at Rs 126.70. The total volume of shares traded was 99,487 at the BSE (12.42 p.m., Wednesday).