Schneider Electric Infrastructure rises on open offer

Schneider Electric Infrastructure gained as much as 1.7 percent on Friday as promoters of the company Schneider Electric Singapore is going to acquire 6.22 crore equity shares of the company at Rs 83.10/share via open offer.

The dispatch of the letter of offer dated December 20 to all shareholders has been completed on December 28, 2012. The offer will be opened during on January 4-17, 2013.

Promoter Energy Grid Automation Transformers And Switchgers India Ltd holds 73.4 percent stake in the company as of September 2012.

At 13:02 hours IST, the stock rose 0.84 percent to Rs 84.30 on the Bombay Stock Exchange. Market capitalisation of the company currently stands at Rs 2,015.65 crore.

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