Date:07/09/2005 URL: http://www.thehindubusinessline.com/2005/09/07/stories/2005090702050400.htm

Back SSI open offer at Rs 45

Our Bureau

Chennai , Sept. 6

PROMOTERS of SSI Ltd have made an open offer to acquire 20 per cent of the company's outstanding shares at Rs 45 each.

SSI is in the process of restructuring its operations and plans strategic investments to explore short to medium-term business opportunities, says an announcement from Karvy Investor Services on behalf of the promoters.

It may be recalled that the promoters acquired 42.48 lakh shares, aggregating to 23.98 per cent of the company's total paid-up capital, on August 31 through preferential allotment.