Constronics Infra: Vishnu Vardhan proposes open offer to buy 40.02% stake; Stock ends 5% up

This open offer is being made at a price of Rs5.70 per fully diluted equity share of the target company.

Feb 23, 2021 03:02 IST India Infoline News Service

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Constronics Infra Limited has proposed an open offer for the acquisition of 28,85,000 equity shares having face value of Rs10 each, constituting 40.02% of the equity share capital of the company by Vishnu Vardhan.

This open offer is being made at a price of Rs5.70 per fully diluted equity share of the target company aggregating to Rs1,64,44,500.The offer price is payable in cash .

The Company informed that  this is a triggered offer being made by the aquirer Vishnu Vardhan.

Constronics Infra ended at Rs4.90 apiece up by Rs0.23 or 4.93% from its previous closing of Rs4.67 on the Sensex.

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