Elections '99
The Indian Express
The Financial Express
Latest News
Screen
Express Computer
Livestylz
Mythology
CerfKids
Corporate Results
Ebate
Matrimonials
Careers
Astrology
E-Cards
Columnists
Graffiti
Crossword
Letters
Jewellery
Info-tech
Power
Steel
|
| |
Saturday, October 16, 1999
Setback for Indian Rayon offer
ENS ECONOMIC BUREAU
MUMBAI, OCT 15: Aditya Birla group company Indian Rayon's buy-back proposal has received a lukewarm response from its shareholders as only around 11 per cent of its total paid-up share capital of Rs 67.48 crore responded to the offer. The finance committee of the board of directors has fixed the final cut-off price at Rs 85 a share.The company had earmarked Rs 146 crore for the purpose, but will now pay only Rs 65 crore to buy back its own shares. Says shareholder, R L Mehta: ``The buy-back will create less floating stock which would be a loss to the small shareholders.'' Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
Top
|
|
|
Printer-friendly page |
|
