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Gujarat Organics promoter group firm exempted from making open offer

The order follows an exemption sought by Ashwin S Dani, a trustee of HD Trust, in February this year

January 01, 1970 5:30 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) has exempted HD Trust, a promoter group firm of Gujarat Organics, from making an open offer to public shareholders.

SEBI has passed an order granting exemption to the acquirer HD Trust from the obligation to make an open offer under regulation SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 with respect to the proposed acquisition of 1,43,323 equity shares of the Gujarat Organics, the regulator said in press release on Tuesday.

The order follows an exemption sought by Ashwin S Dani, a trustee of HD Trust, in February this year.

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