<p>Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate.</p>.<p>The firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share, said a notice by DAM Capital, which is managing the offer.</p>.<p>The offer will aggregate to a total consideration of Rs 38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/ambani-sets-targets-in-succession-plan-for-telecom-retail-and-new-energy-business-1176080.html" target="_blank">Ambani sets targets in succession plan for telecom, retail and new energy business</a></strong><br /><br />The open offer starts on February 21 and closes on March 6, said the public notice.</p>.<p>Shares of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives, had on Thursday closed at Rs 149.35 apiece, which was the highest price in the last three months.</p>.<p>RCPL is the FMCG arm and a wholly-owned subsidiary of RRVL.</p>.<p>The open offer follows RCPL's announcement last week for the acquisition of 51 per cent stake of the paid-up equity share capital of Lotus from the current promoter and promoter group at a price of Rs 113 per share aggregating to Rs 74 crore.</p>.<p>After that, RCPL made a public announcement to acquire 26 per cent stake in Lotus in accordance with the SEBI Takeover Regulations.</p>.<p>RRVL is a subsidiary of Mukesh Ambani-led Reliance Industries and is the holding company of all the retail businesses under the RIL group.</p>
<p>Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate.</p>.<p>The firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share, said a notice by DAM Capital, which is managing the offer.</p>.<p>The offer will aggregate to a total consideration of Rs 38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/ambani-sets-targets-in-succession-plan-for-telecom-retail-and-new-energy-business-1176080.html" target="_blank">Ambani sets targets in succession plan for telecom, retail and new energy business</a></strong><br /><br />The open offer starts on February 21 and closes on March 6, said the public notice.</p>.<p>Shares of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives, had on Thursday closed at Rs 149.35 apiece, which was the highest price in the last three months.</p>.<p>RCPL is the FMCG arm and a wholly-owned subsidiary of RRVL.</p>.<p>The open offer follows RCPL's announcement last week for the acquisition of 51 per cent stake of the paid-up equity share capital of Lotus from the current promoter and promoter group at a price of Rs 113 per share aggregating to Rs 74 crore.</p>.<p>After that, RCPL made a public announcement to acquire 26 per cent stake in Lotus in accordance with the SEBI Takeover Regulations.</p>.<p>RRVL is a subsidiary of Mukesh Ambani-led Reliance Industries and is the holding company of all the retail businesses under the RIL group.</p>