The Hindu Business Line : Carbon Specialities: Accept

The manager to the offer, Fortune Financial Services India Ltd, on behalf of the acquirers, Mr Kishore Kumar Kaya and Mr Pankaj Kumar Kaya, is making an open offer to the shareholders of Carbon Specialities Ltd (CSL).

The offer is being made to buy back 11,20,520 equity shares, representing 20.16 per cent of the equity capital, at the face value of Rs 10 per share.

There are no promoters in the company and the persons having control are the directors who, by themselves, do not hold any shares in CSL. Further, no shareholder, including the sellers, hold more than 5 per cent of the shares.

CSL shares are listed on the Calcutta and Guwahati stock exchanges. However, the shares are extremely illiquid and the annualised trading turnover of the stock in the past eight months has been negligible. Further, the stock value, calculated based on various parameters, is lower than its face value of Rs 10.

Shareholders can, therefore, consider exiting the stock by tendering their shares under the terms of the offer.

BL Research Bureau

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