Coromandel to make open offer for 20% of Godavari Fertilisers

New Delhi, Jan 25 (UNI) Coromandel Fertilisers will make an open offer to acquire 20 per cent interest (64,00,000 shares) in its subsidiary Godavari Fertilisers&Chemicals Ltd at a price of Rs 150 per scrip.

Kotak Mahindra Capital Company Ltd, which is the Manager to the offer, today said the offer will open on March 1 and close on March 20.

The move follows an announcement by the Coromandel Fertilisers, part of the Murugappa group, to acquire 25 per cent of Godavari Fertilisers from Indian Farmers Fertiliser Co-Operative Ltd (IFFCO) for Rs 150 crore.

UNI