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Great Offshore – Bharati

Shipyard v/s ABG Shipyard

Kapoor and Mr. ABG Shipyard Limited(ABG)–Bidder2 Incorporated on March 15. . P.1976 and Promoted by Mr.1985 as the flagship company of the ABG Group and engaged in manufacturing of variety of ships.C.About the Parties Involved Great Offshore Limited (Formerly known as GOL Offshore Limited) –Target Company Great Off shore Limited (GOL) was hived off from Great Eastern Shipping Company Limited and Incorporated as a separate company under the supervision of Mr. Vijay Kantilal Sheth Bharati Shipyard Limited(BSL)–Bidder1 Incorporated on June 22. Vijay Kumar.

560 and finally to Rs.405. • Initially Open offer were made under Regulation 10.2009 BSL made a Voluntary Open Offer for 20% at a price of Rs.02%.86% equity through sale of pledged shares • On June 3.344 to Rs.Bid by BSL • BSL acquired 14.590 per share • Shares acquired through Open Offer –21.23% and increased the offer price from Rs.then to Rs.72%. share holding as on date is 49.344 per share • Later they increased their holding to 23. Later on BSL modified it to include Regulation 12 as well. However the same was rejected by the SEBI and directed it to continue with Regulation 10 .

450 and then to Rs. they decided to quit and sold its 8.12% at Rs.NIL. 2009 • They slowly increased their stake to 8.2% shares in the Offer • ABG made around Rs.590. the open offer of ABG continued at a price of Rs. By selling shares in market at higher price • Shareholding as on date .Bid by ABG • Eleventh Land Developers Private Limited (ELD) along with ABG Shipyard Limited gave a Counter Offer for 32. Nevertheless.375 to Rs.520 per share • As soon as Bharti Shipyard hiked its Offer price to Rs.520 a share and even received 15.50 Cr.375 per share on June 23.2% stake in market. .2% and increased the Offer Price from Rs.

End Result .

Orissa Sponge Iron and Steel Limited – Bhushan Power and Steel Limited v/s Mount Everest Trading and Investment Limited v/s Bhushan Energy Limited .

Bhushan Power and Steel Limited along with Titanic Steel Industries Limited and Olympian Finvest Limited Competitive Bidder 1 Monnet Ispat & Energy Limited along with Torsteel Research Foundation in India and TRFI Investment Private Ltd.Parties Involved Target Company – Orissa Sponge Iron and Steel Limited Acquirer. Competitive Bidder 2 Bhushan Energy Limited along with Mr. Neeraj Singal .

2009.NIL • On February 07.Bid by Bhushan (Acquirer) Power and Steel Limited • Pre holding of the Acquirer . It has given voluntary offer for the acquisition of 26% shares in the Target Company at a price of Rs. • They later became dormant and did not fought further • Post Shareholding of the Acquirer -NIL . 300.

370 per share.Bid by Monnet Group (Competitive Bidder 1) • It had held around 38.16%.10% Equity stake and warrants held by promoters. . • It joined hands with the promoters and entered in to a Share and warrant purchase agreement to acquire 27. • Shares acquired through Open Offer – 5. • It then made an offer to acquire 20% of the Emerging Voting Rights at a price of Rs.64% in the Target Company along with the Promoters who are PAC with it.310 per share which was revised to Rs. • Post Open Offer Share holding was 71.42%.

• Shares acquired through Open Offer – 0.360.00.000 Warrants held by the Bidder were under Litigation.10% shares • It had made Second Competitive Offer to acquire 20% of the Emerging Voting Rights at a price of Rs.2014 the matter has been resolved and it was held that pursuant to the conversion of above warrants there could be no change in control.02% • Post Open Offer Share holding was 17. .330 per share which was further revised to Rs.Bid by Bhushan Energy Group (Competitive Bidder 2) • It had held approx. Vide SEBI order dated June 12.12% • 35. 15% share and During the Open Offer it acquired 6.

END RESULT Though the open offer has been completed. . However the battle between Monnet Group and Bhushan Energy Group is still going on and involved various issues.