M&AMoneycontrol
Investor group challenges Castrol open offer price cut
Negative-64
GreyOak summary
The Small Investors' Welfare Association (SIREN) approached SEBI challenging Motion JVCo's deduction of Rs 11.50 from Castrol India's open offer price. The acquirer reduced the price to Rs 199.45 from Rs 210.95 by adjusting for dividends under takeover regulations. SIREN argues the deduction is unjustified and seeks restoration of the original price, potentially saving shareholders Rs 296 crore.
What it affects
- Castrol IndiaCASTROLINDNegative -64
Open offer price reduced by Rs 11.50.Rolling sentiment Negative -50
Source
Read the original at MoneycontrolMore Castrol India news
- Castrol India Open Offer: Why small investors urge SEBI to restore price to Rs 210.95Financial Express · Regulatory ·