Apollo Tricoat: Open offer begins on Monday

The open offer by Shri Lakshmi Metal Udyog to acquire up to 79.30 lakh shares of Apollo Tricoat Tubes (formerly Best Steel Logistics) will open on Monday (January 7) and close on January 18. The acquirer is offering ₹135 a share to the shareholders of Apollo Tricoat Tubes. The committee of independent directors had recommended the offer price as fair and reasonable. Investors will closely monitor the response to the offer, as the stock is currently trading at ₹134.75.