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Shapoorji Pallonji open offer for FAL

MUMBAI OCT. 11. Shapoorji Pallonji & Co and its subsidiaries are making an open offer to the shareholders of Chennai-based FAL Industries to buy up to 20 per cent stake for Rs. 25 per share, payable in cash.

The offer to acquire 9.1 lakh shares of FAL would open on November 25 and close on December 24.

Shapoorji Pallonji & Co and its subsidiaries, Sterling Investment Corp and Cyrus Investments, hold 3.81 per cent, 63.81 per cent and 2.85 per cent stake, respectively, in Forbes Gokak.

Forbes Gokak, its subsidiary Forbes Estates and its associate company Warrior Investments hold 31.64 per cent, 5.81 per cent and 0.24 per cent stake, respectively, in FAL Industries.

Shapoorji Pallonji and Sterling hold 0.83 per cent and 0.74 per cent stake, respectively, in FAL. — PTI

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