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SAT rejects Rattan plea against Sebi's order on open offer price

SAT rejects Rattan plea against Sebi's order on open offer price

Saturday, April 8, 2017, 12:16 PM

The Securities Appellate Tribunal (SAT) has rejected an appeal by Rattan India Infrastructure's promoters against a Securities and Exchange Board of India (Sebi) order to revise the open offer price. The capital market regulator had asked RattanIndia's promoters to revise the open offer price to `6.3 per share from `3.20 apiece. Sebi directed RattanIndia promoters to deposit `115 crore with interest of 10% per year
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