The announcement was made after trading hours on Wednesday, 17 July 2013.

Meanwhile, the S&P BSE Sensex was up 54.80 points, or 0.27%, to 20,003.53.

On BSE, 3,563 shares were traded in the counter as against an average daily volume of 2,624 shares in the past one quarter.

The stock hit a high of Rs 66.20 and a low of Rs 65 so far during the day. The stock had hit a 52-week high of Rs 88.70 on 26 November 2012. The stock had hit a 52-week low of Rs 50 on 25 March 2013.

The stock had underperformed the market over the past one month till 17 July 2013, sliding 1.96% compared with the Sensex's 3.22% rise. The scrip had, however, outperformed the market in past one quarter, rising 8.90% as against Sensex's 6.50% rise.

The small-cap company has an equity capital of Rs 20.42 crore. Face value per share is Rs 10.

Blackstone Capital Partners, one of the world's largest private equity firms, is taking over Chennai-headquartered auto components company Agile Electric Sub Assembly along with its listed subsidiary Igarashi Motors India (IMIL).

In a two-legged transaction, Blackstone will pick up 97.90% of the parent and that in turn will give them a majority stake in IMIL. The transaction will also trigger an open offer for an additional 26% stake in IMIL.

As part of the deal, Agile Electric Sub Assembly has announced an open offer to acquire up to 79.54 lakh equity shares, or 26% stake, of IMIL at Rs 65 each, aggregating to Rs 51.70 crore.

As on 30 June 2013, Agile Electric Sub Assembly held 1.28 crore equity shares, or 62.80% stake in Igarashi Motors India.

Net profit of Igarashi Motors India declined 24.92% to Rs 4.97 crore on 2.89% rise in net sales to Rs 76.53 crore in Q4 March 2013 over Q4 March 2012.