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Non-banking finance companies or NBFCs have been in limelight so far this calendar and have been clear outperformers in the past 3 years. As many as 6 stocks have more than doubled investors’ wealth in the last one year and nearly 20 stocks gave over 50 percent return.
This is in continuation of the Exchange notice no. 20170703-16 dated July 03, 2017 regarding the Offer to Buy – Acquisition Window (Takeover) for Upasana Finance Limited.
Shares of Upasana Finance will remain in focus, as the open offer from Rekha Jain, Bhavika Jain and Khushbu Jain has received a lukewarm response from Upasana’s shareholders. After buying out the promoters of Upasana Finance, the Jains had launched the mandatory open offer to pick up 26 per cent in the Chennai-based firm at ₹40 a share. Against 11.12 lakh shares, only 1.77 lakh shares (or 16 per cent), were tendered in the offer.
The open offer from Rekha Jain, Bhavika Jain and Khushbu Jain to the shareholders of Upasana Finance opens on Friday. After buying out the promoters of Upasana Finance, buyers are launching the mandatory open offer to acquire an additional 26 per cent in the Chennai-based firm for ₹4.45 crore.
The proposed buyers (Rekha Jain, Bhavika Jain and Khushbu Jain) of Upasana Finance have launched an open offer to acquire an additional 26 per cent in the Chennai-based NBFC entailing an investment of ₹4.45 crore.