Acquisitions22 May 2025, 05:21 pm
Acquirer to Buy 34.04% Stake in National Fittings Ltd for INR 40,19,72,090 via Open Offer
AI Summary
Himgiri Castings Private Limited, along with Mr. Anil Kumar Agarwal, Mrs. Babita Agarwal, Mr. Arpit Agarwal, and Mrs. Arushi Agarwal, have agreed to acquire 30,92,093 Equity Shares of National Fittings Limited from Ackanaickenpalayam Venkataswamy Palaniswamy. This acquisition represents 34.04% of the fully Paid up and Voting Equity Share Capital of the Target Company. The acquirers will make an open offer to the public shareholders of National Fittings Limited to acquire up to 26% of the fully Paid up and Voting Equity Share Capital at an offer price of INR 135 per equity share. The open offer is worth INR 31,88,19,780 in cash.
Key Highlights
- Himgiri Castings Private Limited and PACs to acquire 30,92,093 Equity Shares of National Fittings Limited from Ackanaickenpalayam Venkataswamy Palaniswamy.
- The acquisition represents 34.04% of the fully Paid up and Voting Equity Share Capital of the Target Company.
- Open offer to be made to the public shareholders of National Fittings Limited to acquire up to 26% of the fully Paid up and Voting Equity Share Capital.
- Offer price set at INR 135 per equity share.
- The open offer is worth INR 31,88,19,780 in cash.