Monnet Ispat have formed a consortium with the Torsteel Research Foundation, TRFI Investment Private, and others to acquire 20% of the equity capital of Orissa Sponge Iron and Steel, an Indian coal miner manufacturer of sponge iron, ingots and ferroalloys.
Monnet Ispat and PAC proposes to acquire up to 6,100,000 equity shares of Rs 10 each at a price of Rs 310 a share shares payable in cash, subject to terms and conditions.
The specified date for the offer is Feb. 27, 2008. The offer opens on Apr 4, 2009 and closes on Apr. 23, 2009.
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