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Videocon hikes open offer price

The Aurangabad-based Dhoot family, promoters of Videocon International Limited, has hiked its open offer to shareholders -- from Rs 140 to Rs 165.

The open offer, made last month to acquire an additional 2 per cent shareholding in the company, has been revised after the company's shares crossed the Rs 140 mark, according to the company.

VIL, the flagship of the Rs 20 billion Videocon group, witnessed hectic activity yesterday at both the Bombay Stock Exchange and the National Stock Exchange. The counter moved up by 9.93 per cent on the BSE and 9.6 per cent on the NSE.

The open offer is geared to VIL Chairman and Managing Director V N Dhoot's objective of acquiring a 51 per cent stake in the company.