Announcement spurs the share price of the local company
MUMBAI: Bosch Chassis Systems India on Tuesday said its German parent has made an offer to acquire the public holding in the domestic firm at a price of upto Rs 600 per share.
The delisting offer spurred the share price of the company, which rose 20%during the day. Over 94 lakh shares changed hands on the Bombay Stock Exchange (BSE).
Robert Bosch Gmbh, the parent holding company, has proposed to acquire outstanding shares of the company in accordance with the guidelines, provided the price payable per equity share does not exceed Rs 600, Bosch Chassis said in a filing to the exchange.
In April, Robert Bosch GmbH had withdrawn its offer for acquiring the public holding in the company by rejecting the final price of Rs 750 per share arrived through the reverse book building process, which opened on March 24 and closed on March 28.
Bosch Chassis board would meet on June 12 to discuss the proposal, the filing added. At present, Robert Bosch LLC and Robert Bosch Investment Nederland BV, the promoters of the company, collectively hold 80% of the total share capital of Bosch Chassis.
