Robert Bosch on Wednesday hiked its offer price for an additional 20% stake in India’s Motor Industries Company INR600 to INR4,600 a share.
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Bosch already owns a 60.55 per cent stake in the company.
The revised offer was 1.8% lower than Motor Industries’ Tuesday closing price of Rs 4,685.75 on the Bombay Stock Exchange, a local business website said.
Bosch advertised it would pay the revised price for all shares validly tendered and accepted under the offer. On 27 April, the components maker made an open offer to buy 6,410,292 shares in Motor Industries at INR4,000 a share.
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