ABG Shipyard has announced that it has further raised its stake in the Great Offshore on July 30, 2009.
The company acquired 212,348 shares constituting 0.57% stake of Great Offshore at an average price of Rs 450 per share.
With this acquisition, its stake in the exploration services major has increased to around 8%.
On Wednesday, the company has acquired 5.19% stake in Great Offshore and also raised the open offer price from Rs 375 per share to Rs 450 a share.
Last month, ABG had made an open offer to acquire up to 1,25,71,072 equity shares representing 32.12% of the diluted share capital of Great Offshore at Rs 375 per share through its wholly-owned subsidiary Eleventh Land Developers.