Chettinad Cement Corp. Ltd. said on Monday one of its founders has made an open offer to acquire 13.84 per cent in the company at 450 rupees per share.
The offer, which closes on September 5, would increase the founder’s stake in the company to 90 percent from 76.16 per cent and has been made through group firm Chettinad Software Services Pvt Ltd., it said.
