Sugar producer E.I.D. Parry India Ltd will launch an open offer to acquire up to 20 percent of the equity shares of GMR Industries at 110.69 rupees a share, Enam Securities, the manager to the offer said on Monday.
The offer will be launched on June 18 and will close on July 7, Enam said.
On Sunday, E.I.D. Parry has agreed to buy a minimum 65 percent stake in GMR Industries.