Reliance Retail Ventures Ltd's open offer for the shareholders of Just Dial to buy an additional 26 per cent stake in the company will commence on September 13 and close on September 24, according to a regulatory filing. Earlier this month, RRVL had announced the acquisition of 40.95 per cent stake in Just Dial for Rs 3,497 crore and said it will make a public announcement for an open offer for acquiring up to 2.17 crore equity shares of Just Dial (representing 26 per cent share in the company).
"The acquirer (RRVL) is making this open offer to acquire from the public shareholders up to 2,17,36,894 equity shares, constituting 26 per cent of the emerging voting capital (offer size) at an offer price of Rs 1,022.25 per offer share (offer price)...," a public notice said on Monday.
It said that this would aggregate to a total consideration of over Rs 2,222 crore (assuming full acceptance).
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