The equity stake of 20 per cent in Zyden Gentec (ZGL), a relatively small company presently engaged in manufacturing of pharmaceuticals and fine chemicals with registered office based in Rajasthan, will be acquired by Sharda Advisory Services Pvt Ltd (SASPL) and other persons acting in concert.

SASPL, along with Dr R K Dhar and others, is offering to acquire 8,43,480 shares of Rs 10 each through Open Offer at a price of Rs 10.87 per share. The total amount worked out to Rs 0.92 crore. ZGL's paid up share capital stood at Rs 421.74 lakh. ZGL shares are listed on Bombay Stock Exchange and Jaipur Stock Exchange Ltd. The Open Offer will be open from October 10, 2005 and the same will be close on November 8, 2005.

The acquirer company SASPL is currently engaged in the activities related to financial services. After the Open Offer, the management is taking steps to restructure the operations for increasing operational efficiencies.

The Board of Directors of ZGL passed the special resolution for allotment of 10 lakh equity shares (23.71 per cent of the post preferential equity capital) of Rs 10 each on a preferential basis during July 2004 including 5 lakh shares to SASPL. However, the listing of 10 lakh shares allotted on preferential allotment basis is still pending before the BSE due to non-fulfillment of the SEBI (SAST) Regulations. The BSE has asked the acquirers to make an open offer pursuant to allotment of shares to the acquirer on preferential allotment basis. UTI Securities is the manager to the Offer.