Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) intend to acquire an additional 26% stake in Lotus Chocolate through an open offer.
RCPL and RRVL have offered to purchase 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of ₹115.50 per share. The total cost of the offer, which runs from February 21 to March 6, will be ₹38.56 crore if fully accepted.
On Friday, the shares of Lotus Chocolate, a manufacturer of chocolates, cocoa products, and cocoa derivatives, closed at ₹156.80 on the BSE.
In December, Reliance Consumer Products Ltd, the FMCG division and a wholly-owned subsidiary of Reliance Retail Ventures Ltd, purchased a 51% stake in Lotus Chocolate Company Ltd at a price of ₹113.00 per share, totaling ₹74 crore.
Reliance announces an open offer to increase its stake in Lotus Chocolates Video Detail:
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