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Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) plan to acquire a 26 per cent additional stake in Lotus Chocolate through an open offer.
The companies have offered to acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of ₹115.50 per share. The offer will aggregate to a total consideration of ₹38.56 crore over the full acceptance. The open offer starts on February 21 and closes March 6.
Shares of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives, closed at ₹156.80 at close on Friday on the BSE.
In December, Reliance Consumer Products Ltd, the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Ltd, has acquired 51 per cent stake in Lotus Chocolate Company Ltd at a price per share of ₹113.00 aggregating to ₹74 crore.
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