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Indiabulls Wholesale acquires Piramyd Retail 43.92% stake
Jan '08
With reference to the open offer ("Open Offer") for the acquisition of shares of Piramyd Retail Ltd vide Public Announcement dated December 09, 2007 ("Public Announcement"), Indiabulls Wholesale Services Ltd has informed that on January 02, 2008 it has acquired 87,83,000 (Eighty Seven Lakhs and Eighty Three Thousand only) equity shares of Piramyd Retail Ltd representing 43.92% of the paid up share capital in terms of Share Purchase Agreement dated December 08, 2007 from Cineline Trading Company Pvt Ltd, Topwave Mercantile Company Pvt Ltd, Oneline Mercantile Company Pvt Ltd, Onestar Mercantile Company Pvt Ltd and Nandan Ashok Piramal through an off market transaction at a price of Rs 31.29/- (Rupees Thirty One and Twenty Nine Paisa only) which is less than the Open Offer price of Rs 74.73/- (Rupees Seventy Four and Seventy Three Paisa only).

Piramyd Retail Ltd

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