Shares Of BLB Limited Hits Upper Circuit For Second Consecutive Day

Shares of BLB Limited hit the upper circuit for the second consecutive day during a special trading session on Saturday i.e. January 20. The stock opened with a gain of 11.74 per cent from the previous close of Rs 26.84. The counter opened at Rs 29.99 and went on to surge 19.97 per cent to hit the upper circuit of Rs 32.20. This is also the 52-week-high of the stock. The 52-week-low of the BLB Limited stock is Rs 18.

On technical parameters, BLB stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

"This is to inform you that the Company had received a copy of the Public Announcement ("PA") dated 17th January, 2024 by M/s. Fast Track Finsec Private Limited ("SEBI registered Merchant Banker and Manager to the Offer") on behalf of M/s. Dream Achiever Consultancy Services Private Limited ("Acquirer") in relation to an Open Offer to the Public Shareholders of BLB Limited.

This is to inform you that Dream Achiever Consultancy Services Private Limited have announced an Open Offer for acquisition of upto 1,37,44,967 ((One Crore Thirty-Seven Lakh Forty-Four Thousand Nine Hundred Sixty-Seven) Equity Shares of Face Value INR 1/- (Rupee One Only) Each Representing 26% of the Equity and Voting Shares Capital of the Company, at a Price of 22.60/- (Rupees Twenty-Two and Sixty Paisa Only) Per Fully Paid-Up Equity Shares of BLB Limited," said the company recently in a stock exchange filing.

"This is to inform you that Dream Achiever Consultancy Services Private Limited (Acquirer) have announced an Open Offer for acquisition of upto 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/- (Rupee One Only) each from the shareholder of Target Company representing 26% of the total issued, outstanding and fully paid-up Equity Share Capital of the Company, at a price of INR 22.60/- (Rupees Twenty-Two and Sixty Paisa Only) per Equity Share ("Offer Price") aggregating to total consideration of INR 31,06,36,254.20 (Rupees Thirty-One Crore Six Lakh Thirty-Six Thousand Two Hundred Fifty-Four and Twenty Paisa Only) payable in "Cash" ("Offer")," the company further stated in a regulatory filing.

The stock has been gaining for the last 4 days and has risen 38.06 per cent returns in the period. The stock has given a 463 per cent return in the last three years. However, the return given by this stock in the last two years is 27.56 per cent.

BLB Limited has been a specialist in 'Jobbing and Arbitrage' distinguished by our capital commitment and immaculate understanding of tracing dynamics and market structure. The main business of the Company is trading and investment in Shares and Securities.