Further to my previous post that there are probability of open offer in Nippo Batteries, I would like to clarify that there has to be an open offer as per my reading of SEBI takeover code and filings made by the company with Stock Exchange. This inference is based on data about the company availiable in public domain.
I hold on to view that there has to be an open offer, but that may not be the view shared by the company or the promoters as they have mentioned in the filings with the stock Exchange that it does not come in the ambit of open offer.
I am sure that SEBI will take side of Minority Shareholders and compel the company to make an open offer as the company has not complied with the guidelines on SEBI takeover code required for exemption from making an open offer.
This is not a recommendation to anybody whatsoever to buy ir sell this share, but it is my thought process and views on this topic.
I welcome your critical comments and suggestions.