Canara Bank hikes open offer price for Canfin Homes to Rs 63
Canara Bank has raised the open offer price for acquiring the 43.14 lakh shares of Canfin Homes Ltd to Rs 63 per share.
Indbank Merchant Banking Services, acting on behalf of Canara Bank, has informed the stock exchange of the revised price. The original price fixed for the acquisition was Rs 58 per share.
Besides, Indbank Merchant Banking has also revised the closing date of the offer to January 7, 2008. The open offer is slated to commence from December 19 this year. Canara Bank currently holds about 29.94 per cent of the paid-up equity. Canfin Homes has a paid-up equity of Rs 20.49 crore.
The Canfin Homes stock closed at Rs 76 on the Bombay Stock Exchange on Friday.
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