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| Edited By: Aniruddha Basu |Source: Reuters |Updated: Mar 17, 2018, 05:09 AM IST
The founders of Religare Enterprises plan to acquire 28 million shares at Rs457 each, the manager to the offer said on Wednesday.
The offer represents 20% diluted share capital in Religare, the statement from Kotak Mahindra Capital Company said.
On Tuesday Religare had said its founders will spend Rs8.57 billion to raise their stake by about 9% via shares and preferential allotment and make an open offer to acquire a further 20% in the company.
