Diageo makes open offer for Pioneer Distilleries at Rs 60

As per BSE announcement, JM Financial Institutional Securities Pvt Ltd (Manager to the Open Offer) has informed BSE regarding open offer to the public shareholders of Pioneer Distilleries to acquire up to 2,466,168 fully paid up equity shares of face value of Rs.10.0 (Rupees ten only) each of the target company (offer shares), constituting the remaining 18.4% of the voting share capital of the target company, at a price of Rs. 60.0 per offer share (offer price), by Relay B.V. (Acquirer / Relay) together with Diageo plc (PAC 1 / Diageo), Diageo Finance plc (PAC 2), Diageo Capital plc (PAC 3) and Tanqueray Gordon and Company Limited (PAC 4) as the persons acting in concert (PACs) with the Acquirer (Offer / Open Offer).

At 09:36 hrs Pioneer Distilleries was quoting at Rs 41.55, up Rs 1.95, or 4.92%. It has touched an intraday high of Rs 41.55 and an intraday low of Rs 41.55.
 
There were pending buy orders of 870,533 shares, with no sellers available. It was trading with volumes of 300 shares.
 
In the previous trading session, the share closed up 4.90% or Rs 1.85 at Rs 39.60.

The share touched its 52-week high Rs 52 and 52-week low Rs 25.25 on 22 October, 2012 and 30 August, 2012, respectively.
 
Currently, it is trading 20.1% below its 52-week high and 64.55% above its 52-week low.
 
Market capitalisation stands at Rs 55.63 crore.