Lotus Chocolate , which had closed yesterday at Rs.194.90, opened itself today at its 5% UC of the day at Rs.204.60, where it now remains frozen. Its 52-week high is at Rs.480.45.
The stock hit the roof as the new revised open offer from Reliance Consumer Products Ltd (RCPL) – the FMCG arm and a wholly-owned subsidiary of RRVL, which is Reliance Retail Ventures Ltd to its shareholders to acquire a 26% additional stake will begin on March 16 and end on March 31. The original schedule of the open offer was from February 21 to March 6.
RRVL and RCPL have made an offer to acquire 33.38 lakh shares from the open market at Rs.115.50/share, for a total consideration of Rs.38.56 crore.
RRVL is a subsidiary of Reliance Industries and is the holding company of all the retail businesses under the RIL group.