The Hindu Business Line : TIIC unlikely to sell stake in Malco

CHENNAI: Tamil Nadu Industrial Investment Corporation (TIIC), a Tamil Nadu Government undertaking, is unlikely to sell its stake in Madras Aluminium Company Ltd (Malco) due to a price mismatch between what it expects and that offered by Twinstar Holdings, the majority stakeholder. According to sources, TIIC - which has with 3.1 per cent stake in Malco - expects Rs 2,091 a share. (The price was arrived at based on Government norms covering such disinvestments.) However, it was offered around Rs 200 a share.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Trust property: Arguments against Lodha, others end

Mallya gets closer to SWC, likely to revise offer — Komal Chhabria not tobid at `any price'

Su-Raj Diamond picks up 49% stake in Forever Precious

TIIC unlikely to sell stake in Malco

Max Healthcare to raise Rs 75 cr thru equity placement

Biological E, Intercell in pact for encephalitis vaccine

Reliance Energy seeks pact with electrical contractors

Payroll giving programme to help the underprivileged in Mumbai

AP CM writes to Centre as BHPV revival hangs fire

Videocon Ind to raise Rs 2,000 cr for oil exploration

March belies hopes so far; Maruti to halt production for two days

Ford sales set to cross Rs 1,000-cr mark

`PSUs will do well to adopt quality programmes'