Penny Stock Gains After Dream Achiever Acquires 1,37,44,967 Shares Via Open Offer

Shares of BLB Ltd gained 1.71% after Dream Achiever Consultancy Services Private Limited announced an open offer for acquisition of up to 1,37,44,967 (One-crore thirty seven lakh forty four thousand nine hundred sixty seven) fully paid up equity shares of face value INR 1/- each from the shareholder of BLB Limited representing 26% of total issued, outstanding and fully paid-up equity share capital of the company at a price of Rs 22.60 per equity share (offer price) aggregating to total consideration of Rs 31,06,36,254.20 payable in cash, according to the BSE filing.

Last trading price of BLB Ltd share on BSE is Rs 22.63 apiece. The stock's 52-week high price is Rs 32.65 apiece and 52-week low price is Rs 18.00 per share, respectively. The company has a market capitalisation of Rs 119.63 crore.

BLB Ltd shares declined 1.92% in last 1-week, gained 19% in last 6-months, and declined 26% in last 1-year. In last 3-years, BLB Ltd shares offered gain of 300% and soared 268% in last 5-years.

Earlier, as per the regulatory filing of BLB Ltd, "we hereby would like to inform that Mr. Brij Rattan Bagri, the promoter of our Company (hereinafter referred to as 'Seller') has entered into a Share Sale and Purchase Agreement on 17° January, 2024 with M/s. Dream Achiever Consultancy Services Private Limited (hereinafter referred to as 'Acquirer') under which the Acquirer proposes to acquire 1,94,74,671 equity shares representing 36.84% of the paid-up share capital of our Company at INR 1/- each equity share amounting to total consideration of Rs. 43.82 Crores (approx.)"

BLB Ltd has a market capitalisation of Rs 119.00 crore.

BLB Limited is a securities brokerage services company. It is engaged in the business of trading and investment in shares, securities & commodities. It operates in Shares & Securities segment.
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