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Surya Roshni announces revised dates for the open offer
Surya Roshni has announced the revised dates for the open offer that was triggered by the
substantial increase in promoters’ stake on account of conversion of warrants. Originally, the
open offer was scheduled from December 8, 2010, to December 27, 2010. However, there
was a delay in obtaining the necessary regulatory clearances. Now, the company has
obtained the clearances and has announced the revised dates for the open offer. The offer
will remain open from February 23, 2011, to March 14, 2011. At the CMP, the stock is
trading at 6.0x its FY2012E standalone EPS of `18.1. We have a Buy view on the stock with
a Target Price of `135.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Surya Roshni announces revised dates for the open offer
Surya Roshni has announced the revised dates for the open offer that was triggered by the
substantial increase in promoters’ stake on account of conversion of warrants. Originally, the
open offer was scheduled from December 8, 2010, to December 27, 2010. However, there
was a delay in obtaining the necessary regulatory clearances. Now, the company has
obtained the clearances and has announced the revised dates for the open offer. The offer
will remain open from February 23, 2011, to March 14, 2011. At the CMP, the stock is
trading at 6.0x its FY2012E standalone EPS of `18.1. We have a Buy view on the stock with
a Target Price of `135.
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