H1 Open offers dip to Rs 1,009 cr from Rs 13,000 cr

Open offers saw a drastic plunge during the first six months of the current fiscal, dropping to just over Rs 1,000 crore from Rs 13,000 crore in the year-ago period. According to Sebi’s latest monthly report, shareholders received a total of 33 open offers worth Rs 1,009 crore during the April-September period of the current fiscal, while in the same period last year, a total of 29 offers worth Rs 13,000 crore were made to investors. Open offers are made by company promoters and other entities for either consolidation of their holdings as part of substantial acquisition or change in control of management in publicly-listed companies. September saw five offers being made to investors worth Rs 2 crore, the lowest in terms of value during the current fiscal.