OPEN OFFER to buy all non promoters shares at 275 per share .10% pa interest will be paid from 23 .02.22 till date of DPS (detailed public statement ).100% acceptance is assured . IT IS NOT A DELISTING as of now but an outside chance if promoters opt for it in DPS .
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NO delisting has been opted …open offer at 295.65 per share including interest … TENTATIVE schedule 9 to 23 .01.2023…if promoters make more than 75% another OFS to dilute excess !
SAT hearing on 24.01 .2024 for sebi direction to co on revising open offer price which company did not agree.
if lose case, promoter have option to move apex court but in exactly similar circumstances few years back with same promoters same company , apex court did not admit the plea. so this time promoters may not move.
if sebi wins open offer can be around 600-700 per share considering huge land bank value plus business value of co .
ADJOURNED TO 19 March 2024 due to non availability of bench .