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The open offer from Reliance Infrastructure to the shareholders of Pipavav Defence and Offshore Engineering Company begins on December 2 and close on December 15.
Under the offer, it would acquire up to 19.14 crore shares (or 26 per cent stake) from the public shareholders of Pipavav Defence at a price of ₹66 apiece. In March, the Anil Ambani group firm had announced plans to acquire controlling stake in Pipavav Defence for up to ₹2,082 crore.
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