The board of Aditya Birla Fashion and Retail in its meeting held on May 5, 2023, had approved acquisition of 1,87,12,577 equity shares at Rs. 503 per share. This is an open offer which starts on Tuesday, August 8, 2023 and ends on Wednesday, August 23, 2023.
This Offer is conditional on a minimum level of acceptance of at least 1,30,27,826. If the number of Equity Shares tendered in terms of the Offer is less than 1,30,27,826 Equity Shares, the Acquirer shall not acquire any Equity Shares under the Offer.
TCNS is currently trading at 434 around. The offer to buy is at a premium of Rs. 69 per share. Do share your views on the offer.