Promoter makes open offer for Amulya Leasing; upbeat on biz

Amulya Leasing and Finance is up in trade today on back of open offer made by promoter Sameer Gupta for a 26 percent stake at Rs 112 per share. The current market price is Rs 106 per share. Gupta currently hoods 35 percent stake.Sameer Gupta, MD of the company in an interview to CNBC-TV8 said the open offer was made because he was confident of the business of the company, which is basically a holding company of Apollo Pipes Limited. Gupta holds around 51 percent stake in Apollo Pipes. The entire revenues for him currently come from Apollo Pipes.The total size of the open offer is for 13.44 lakh shares amounting to Rs 14.56 crore For more details, watch video