Indian investor Religare Finvest has snapped up a 24.99% stake in struggling ABG Shipyard, triggering an offer for the rest of its stock.
The yard said Religare had acquired 1.32m shares, making a bid for the remaining stock mandatory, the Mint daily reported.
The purchase would have cost as little as INR 41.6m ($613,500) at the current share price of INR 31.55m,
