HB Stockholdings increases stake in DCM Shriram

New Delhi, Dec 6 (UNI) HB Stockholdings Ltd, a non-banking finance company dealing in securities, today said has increased its stake in DCM Shriram Industries Ltd to 14 per cent through open market purchases.

Recently, HB Stockholdings had made an open offer to the shareholders of DCM Shriram Industries for acquiring 22.88 per cent of fully paid-up equity share capital at a price of Rs 70 per share in cash.

HB Stockholdings had to acquire 35 lakh shares for the 22.88 per cent stake in DCM Shriram Industries. The offer opens on January 3, 2008 and closes on January 24, 2008.

UNI