Indiabulls has postponed the proposed date of the open offer to shareholders of Piramyd Retail Ltd.
The companies said that the date has been postponed till further notice, and has intimated the BSE.
It was earlier announced that the offer would be open from February 2 to February 21, 2008.
The offer to shareholders of Piramyd Retail was to acquire up to 4,032,750 equity shares, being 20 per cent of the fully diluted voting capital of the company, at Rs 74.73 per share.
The open offer was from Indiabulls’ subsidies, Indiabulls Wholesale Services Ltd and Indiabulls Real Estate Ltd, pursuant to the acquisition of 63.92 per cent of equity share capital of Piramyd Retail from the existing promoters.