Antelopus Energy to buy controlling stake in Selan Exploration; stk up 20%
Summary
Shares of Selan Exploration Technology have been locked in the 20 per cent higher circuit band at Rs 183.40 on the BSE on Monday after Antelopus Energy agreed to purchase a 21 per cent stake in the oil exploration and manufacturing agency at Rs 200 per share. The promoters of Selan Exploration on Thursday, March 17, 2022 executed a Share Purchase Agreement with Blackbuck Energy Investments Limited for the sale and buy of not lower than 3.19 million fairness shares at a value of Rs. Blackbuck Energy Investments is a holding entity of Antelopus. Meanwhile, Antelopus, backed by personal fairness corporations, Oak tree Capital and ICE Canyon Capital have launched an open provide to buy as a lot as 26 per cent stake from public shareholders of the corporate. As on December 31, 2021, the promoters Raj Kapur, Rohni Kapur and Winton Roavic LLP- collectively held 30.09 per cent stake in Selan Exploration.