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FCI OEN open offer to begin on February 15

Our Bureau

Kochi , Feb. 2

AN open offer to the shareholders of FCI OEN Connectors will begin on February 15 after Bain Capital, a global private investment firm, acquired the Kochi-based electronic connector maker's parent company in a global deal.

The open offer for 20 per cent shares is being made at Rs 405 for each share, according to documents filed with SEBI.

The company's shares, listed on the BSE, the NSE and the Cochin Stock Exchange, closed at Rs 399 on the BSE on Thursday.

Should the open offer for the entire 20 per cent (12,59,496 shares) is accepted, Bain Capital, which is making the offer through its subsidiaries - Luxco and FCI, will have to shell out over Rs 51 crore. Indian public holds 23.85 per cent share in FCI OEN Connectors.

Kotak Mahindra Capital Company Ltd is the manager to the open offer, which will close on March 6.

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