Business & Investment

HG Industries Public Shareholders Refuse to Tender Shares in Tender Offer by Greenram Industries

A public shareholder of HG Industries Ltd (formerly Himalaya Granites Ltd) has rejected the tender offer for the tender offer by Greenlam Industries Ltd.

Greenlam has acquired 34,70,566 shares, or 74.9% of the total paid-in equity capital of HG Industries Ltd (formerly Himalaya Granites Ltd), at a price of £ 40.10 per share.

Shares are from Saurabh Mittal, Parul Mittal, Shiv Prakash Mittal, and SM Safeinvest Private Ltd (collective term for HG Industries promoters and promoter groups) in accordance with the Share Purchase Agreement (“SPA”) entered into on August 28, 2021. It was acquired.

“In addition, a tender offer will be made to acquire all HGIL public shares up to 11,62,602 shares of HG Industries, which is equivalent to 25.09% of HGIL’s voting capital, at a price of £ 41.00 per share. The terms of Rule 3 (1) and 4 of the 2011 SEBI (Substantial Acquisition and Acquisition of Shares) Regulations. The tender offer period for the Tender Offer begins on October 27, 2021 and is 2021. It ended on November 11. There was no public shareholder who went public in the tender offer, so there was no need to pay the public shareholder. “

HG Industries has become a subsidiary of Greenlam Industries Ltd.

HG Industries Public Shareholders Refuse to Tender Shares in Tender Offer by Greenram Industries

https://www.thehindubusinessline.com/markets/public-shareholders-of-hg-industries-decline-to-tender-shares-in-the-open-offer-by-greenlam-industries/article37838807.ece HG Industries Public Shareholders Refuse to Tender Shares in Tender Offer by Greenram Industries

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