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Kiran Gulati
5 articles
The attempted acquisition of Jai Mata Glass is facing challenges as the mandatory open offer to acquire a 26% stake at ₹1.85 per share significantly undersubscribed, with only 1,084 shares tendered against the 2.6 crore offered. This limited success, despite an independent committee deeming the price fair and reasonable, suggests a lack of interest from public shareholders or potential difficulties in reviving the company's operations, which the acquirers, including Kiran Gulati, have pledged to strengthen. While the acquirers now hold 44.57% of the company, the low participation in the open offer introduces uncertainty regarding their ability to achieve their stated goal of a controlling 70.57% stake and raises questions about the viability of their turnaround strategy.
Jai Mata Glass Open Offer Results: 1084 Shares Tendered
Acquirers Ashwani Gulati, Kiran Gulati, and Veerasha Trust completed an open offer for 26% of Jai Mata Glass Limited shares at ₹1.85 per share.
The offer received only 1,084 shares against the intende
Jai Mata Glass Open Offer for 26% at ₹1.85/Share
Open offer by Ashwani Gulati, Kiran Gulati, and Veerasha Trust to acquire up to 2.6 crore shares (26%) of Jai Mata Glass Ltd at ₹1.85 per share.
Independent Directors Committee recommends the offer pr
Jai Mata Glass Mandatory Open Offer at ₹1.85
Ashwani Gulati, Kiran Gulati, and Veerasha Trust launch a mandatory open offer for 26% of Jai Mata Glass Limited shares at ₹1.85 per share, triggered by a separate 44.57% stake purchase.
The offer, va
Jai Mata Glass Mandatory Open Offer for 26% Stake
Acquirers Ashwani Gulati, Kiran Gulati, and Veerasha Trust launch a mandatory open offer for 26% of Jai Mata Glass Ltd. at ₹1.85 per share.
The offer is triggered by a separate Share Purchase Agreemen
Jai Mata Glass Open Offer for 26% at ₹1.85
• Mandatory open offer for 2.6 crore shares (26% stake) in Jai Mata Glass Ltd triggered by a promoter share purchase agreement.
• Acquirers Ashwani Gulati, Kiran Gulati, and Veerasha Trust will pay ₹1