NEW DELHI, NOV 4: The promoters of the Rs 250 crore premier mills have offered to buy back 20 per cent of the company's shares at a price of Rs 60 per share from the public to raise their stake to over 90 per cent.The promoters along with Primera Investments, which has made the open offer, currently hold 72.64 per cent stake in Tamil Nadu-based Premier Mills. The promoters would delist the shares from stock exchanges if the public holding falls to 10 per cent or less after the offer closes on January 20, 2000, the open offer for the company by Alpic Investment Services said.The offer is for acquiring 9,60,000 shares of Premier Mills at a total cost of Rs 5.76 crore. Alpic Investment, the merchant banker for the offer, said Primera Investments would make another offer to buyout the remaining shares if the public holding in the company drops to 10 per cent.
