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Shares of Ingersoll-Rand (India) rose 0.24% to Rs 639 on Wednesday (24 June), bucking weak market trend.
The Nifty 50 index slumped 165.70 points, or 1.58% to 10,305.30 amid broad-based selling pressure.
Meanwhile, Ingersoll-Rand (India) on 19 June 2020 published a pre-offer newspaper advertisement referring an open offer made by Ingersoll Rand Inc. (formerly known as Gardener Denver Holdings, Inc.) along with Ingersoll-Rand U.S. HoIdCo Inc., and Ingersoll Rand Industrial U.S., Inc., to acquire up to 82,07,680 equity shares, or 26% equity, of Ingersoll-Rand (India) at Rs 642.63 per share.
The tendering period of the open offer commenced on 22 June 2020 and will close on 3 July 2020.
The company said that 24 July 2020 is the last date for publication of post-offer public announcement in the newspapers in which the Detailed Public Statement (DPS) has been published.
Total promoter holding in Ingersoll-Rand (India) stood at 74% as on 31 March 2020.
Ingersoll-Rand (India) is primarily engaged in the business of manufacturing and sale of industrial air compressors of various capacities and related services, and its complete machines and spare parts.
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