With this acquisition, Advent International Corp which earlier held a 73.70 per cent stake in DFM Foods through its subsidiary AI Global Investments (Cyprus) PCC now holds 96.18% stake in the firm. The tendering window was opened on 13 December and ended on 5 January.

The discovered price came in at Rs 525 a share. Advent Intl has now made a counteroffer of Rs 467 a share

Promoters held a 74.76% stake in the company, and if they accept the discovered price of ₹525 per share, their stake will increase to 91.29%. Once the promoter has acquired control of the 90% of the share capital of a company, they can delist it from the bourses.

Explaining the rationale for delisting of equity shares, the filing added that the acquirer would obtain full control of the company and shareholders will realise immediate certain value for the shares.

In a regulatory filing, Advent expressed AI Global's intention to "acquire all the equity shares that are held by public shareholders, either individually or collectively, as the case may be."

Advent, via its affiliate AI Global, will acquire all equity shares held by public shareholders, a regulatory filing said. Consequently, DFM Foods will voluntarily delist from the stock exchanges, it added.

A statement issued by Eureka Forbes said Pota will lead the management team to continue scaling the business, solidifying Eureka Forbes market leadership position, and delivering innovative products for a growing customer base. He will join Eureka Forbes on August 16, 2022.

“The fresh fundraise through GPE X will support our expansion in India over the next few years and allow us to tap into attractive opportunities in a growing market”, Advents India chief executive officer Swheta Jalan said. Advent did not provide details of what quantum of the fund could be dedicated to Indian investments.

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Ashish Kacholia increased stake in DFM Foods, the snack foods manufacturer, to 2.84 percent in the September quarter

Avenue Supermarts | Petronet LNG | NALCo | Cipla | Nelcast and Bombay Dyeing are stocks, which are in news today.

Experts feel that there could be a possibility of further downside if Nifty50 trades below 12,160 levels in the coming week as well. The near term outlook is tilted towards bears as MACD gave a bearish crossover or triggered a sell signal on charts.

The open offer for 1.3 crore shares having a face value of Rs 2 each at an offer price of Rs 249.50 per equity share. However, it is lower than Rs 270.20 at which DFM Food shares closed on BSE on Monday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 41 points gain or 0.37 percent. Nifty futures were trading around 11,012-level on the Singaporean Exchange.

Reliance Capital | DFM Foods | Quess Corp | Indiabulls Housing Finance | HCL Technologies and OBC are stocks, which are in news today.

Reliance Capital | DFM Foods | Quess Corp | Indiabulls Housing Finance | HCL Technologies and OBC are stocks, which are in news today.

The filings showed that the US investment firm has entered into a share purchase agreement with promoters Mohit Jain and Rohan Jain to acquire around 38 per cent stake.

As long as the banking index is trading above 28,000, we suggest trading with buy on dip strategy. Moreover, the banking index can continue to trade in a range of 27,600-29,000 for the coming week.