Aquilo House Pte Ltd and CVC Capital Partners have on August 27 filed open offer to acquire up to 26 percent of Aavas Financiers Limited's expanded voting share capital at Rs 1,766.69 per fully paid up equity share.
The open offer has been made for acquisition of over 2 crore equity shares of face value of Rs 10 each worth up to Rs 3,664 crore.
JM Financial Limited has been appointed as the manager to the Open Offer, which opens on October 4 and closes on October 17.
At 11:20 am on August 27, Aavas Financiers shares were trading nearly 2 percent higher at Rs 1,720 apiece.
On July 3, Moneycontrol was the first to report that the promoters of Aavas Financiers, Kedaara Partners and Partners Group were eyeing an exit.
Should the open offer be fully subscribed, CVC is set to acquire a controlling 52.47% stake in Aavas.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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