MUMBAI, MARCH 31: Baring India Investments Ltd (BIIL) has made an open offer to acquire 20 per cent of the paid-up capital of BFL Software. The acquirer, a limited liability private equity fund, is planning to acqire 12 lakh shares of BFL through the open offer.The offer will be open to all the shareholders of BFL Software from May 9 to June 8 at Rs 135 per share. BIIL had entered into an agreement with the company to acquire 15,04,900 fully paid-up equity shares of BFL (representing 25 per cent of the issued equity share capital of BFL) at a negotiated price of Rs 135 per share. The acquirer is negotiating to acquire a further 11,38,700 shares on the same terms and conditions.
Consequent to the agreement and as per Sebi norms , the acquirer has announced its plans of making an offer to shareholders. The offer price is higher than the average of the weekly high and low of the closing prices on the BSE during the 26 weeks to March 31.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
