Ashok Alco-Chem Ltd Announces Open Offer

Ashok Alco-Chem Ltd announced that Pioneer Money Management Ltd (Manager to the Offer) has issued an Open Offer on behalf Aura Alkalies & Chemicals Pvt Ltd (Acquirer) and Dr Anil Kadakia (Person Acting in Concert)(PAC) to the Shareholders of Ashok Alco Chem Ltd (Target Company) to acquire 9,81,590 Equity shares of INR10 each at a price of INR19.15 per fully paid shares of the Target Company representing 26% and the voting Capital of Target Company , under Regulation 15 (1) of SEBI (SAST) Regulations 2011, pursuant to and in compliance with Regulation 3(1) & 3(4) of the SEBI (SAST) Regulations, 2011.