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The open offer to shareholders of LKP Finance from Essel group (Dakshin Mercantile) opens on Wednesday and closes on October 4. The latter plans to acquire up to 32.678 lakh shares, representing 26 per cent of the voting share capital of LKP Finance at ₹198 a share. The offer was mandatory after Essel group had entered into a definitive agreement to acquire up to 62 per cent equity in LKP Finance in May. Recently, it received RBI nod for the stake-sale.
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