BLB Limited Shares Rally On Open Offer By Dream Achiever Consultancy

The BSE benchmark fell by 801.67 points or 1.11 per cent to settle at 71,139.90 on Tuesday. The Nifty declined 215.50 points or 0.99 per cent to 21,522.10.

Stock Market News: BLB Limited has shared information related to an Open Offer to the Public Shareholders of the company. Dream Achiever Consultancy Services Private Limited has issued this open offer to buy shares with face value of Rs 1 at the rate of Rs 22.60.

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“This Open Offer being made by the Acquirer to the Public Shareholders of the Target Company for acquiring upto 1,37,44,967 (One Crore Thirty Seven Lakh Forty-Four Thousand Nine Hundred Sixty-Seven) fully paid-up equity shares of face value of INR 1/- (Rupee One only) each representing 26% of the total voting equity share capital on a fully diluted basis of the Target Company, expected as of the tenth (10th) working day from the closure of the Tendering Period at the Offer Price of INR 22.60/- (Rupees Twenty-Two and Sixty Paisa Only), subject to the terms and conditions mentioned in the Draft Letter of Offer, the PA and the DPS,” the company said in an exchange filing.

The open offer has been made by Dream Achiever Consultancy Services Private Limited.

Meanwhile, shares of the company were trading at Rs 33.65 at around 12:08 pm. This is a surge of around 9.75 per cent from the previous close of Rs 30.66. The counter has a 52-week high of Rs 34.70 and a 52-week low of 18.

Meanwhile, benchmark equity indices began the day on a bearish note on Wednesday tracking weak Asian markets and fresh foreign fund outflows, but later recovered all the lost ground to trade in the green on buying in Reliance Industries.

Investors are eyeing the two important events lined up ahead — the interim budget and the US Fed interest rate decision — to derive further cues from.

The 30-share BSE Sensex declined 243.07 points to 70,896.83 in early deals. The Nifty also slipped 73.25 points to 21,448.85. However, later both the benchmark equity indices recovered the early lost ground and were trading in the green. The Sensex quoted 146.33 points up at 71,286.23, and the Nifty traded higher by 58.25 points to 21,580.35.

Global oil benchmark Brent crude declined 0.45 per cent to USD 82.50 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,970.52 crore on Tuesday, according to exchange data. The BSE benchmark fell by 801.67 points or 1.11 per cent to settle at 71,139.90 on Tuesday. The Nifty declined 215.50 points or 0.99 per cent to 21,522.10.

Disclaimer: The article is for informational purposes only and not investment advice.