Sebi seeks clarification on rival bids for Vijay Mallya group's Mangalore
Chemicals and Fertilisers
24/06/2014 15:01
Market regulator Sebi has sought clarifications from two rival bidders who have made offers for acquisition of additional stakes in Vijay Mallya-led UB Group's Mangalore Chemicals and Fertilisers Ltd (MCFL), reported PTI. The clarifications have been sought through merchant bankers of the two rival bidders -- Deepak Fertilisers and Zuari Fertilisers, among which the latter has been joined by the existing promoters of MCFL as 'persons acting in concert', as per the media reports. According to latest data made public by Sebi, the clarifications were sought from JM Financial (merchant banker for Deepak Fertiliser group) on June 20. Prior to that, Sebi sought additional details on June 17 from ICICI Securities and Ambit Corporate Finance, who are acting as merchant bankers for Zuari in their proposed open offer for MCFL. According to media reports, the reply was awaited from the merchant bankers for both the open offers, says the latest update on 'processing status of draft offer documents' filed with the capital markets regulator as on June 20.
24/06/2014 15:01
Market regulator Sebi has sought clarifications from two rival bidders who have made offers for acquisition of additional stakes in Vijay Mallya-led UB Group's Mangalore Chemicals and Fertilisers Ltd (MCFL), reported PTI. The clarifications have been sought through merchant bankers of the two rival bidders -- Deepak Fertilisers and Zuari Fertilisers, among which the latter has been joined by the existing promoters of MCFL as 'persons acting in concert', as per the media reports. According to latest data made public by Sebi, the clarifications were sought from JM Financial (merchant banker for Deepak Fertiliser group) on June 20. Prior to that, Sebi sought additional details on June 17 from ICICI Securities and Ambit Corporate Finance, who are acting as merchant bankers for Zuari in their proposed open offer for MCFL. According to media reports, the reply was awaited from the merchant bankers for both the open offers, says the latest update on 'processing status of draft offer documents' filed with the capital markets regulator as on June 20.
