Wilmar Sugar Holdings (WSH) has purchased an additional 19.77% stake in Shree Renuka Sugars, through an open offer.

According to the shareholding norms, WSH had 38.57% stake in Shree Renuka Sugars as on March 2018, but after the completion of the open offer, WSH’s stake in Shree Renuka has now gone up to 58.34%.

The purchase of the shares triggered an open offer, under which WSH proposed to acquire up to additional 26% in Shree Renuka Sugars at a price of Rs.16.29 per share, aggregating to Rs.811 crore. However, as per the filing, WSH has acquired 19.77% stake in Shree Renuka Sugars through open offer which closed on June 26.

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