Post-offer, the shareholding of Oracle Global (Mauritius) and Oracle Corporation now stands at 82.92 per cent representing 67,481,698 shares -- around seven per cent less than the proposed 89.69 per cent stake equivalent to 72,985,730 shares, data available in a regulatory filing on the Bombay Stock Exchange shows.
DSP Merrill Lynch, the manager to the offer, on behalf of Oracle Global (Mauritius) Ltd said as per the information available with the registrar, the response to the offer was less than the revised offer size of 2.83 crore (28.3 million) fully paid-up equity shares of I-flex.
Oracle had made a final offer of Rs 2,100 per share to the shareholders for increasing its stake to 90
per cent in the domestic company.
In August 2005, Oracle had acquired 41 per cent stake in i-flex from Citigroup Venture Capital International at Rs 800 a share and launched an open offer to buy an additional 20 per cent at Rs 882.62 per share.
Seeking to up its stake to 90 per cent, the company launched a revised open offer for shareholders to tender their shares at Rs 1,475 per share, which was later sweetened to Rs 2,100 a share (including interest).
