The open offer from Rekha Jain, Bhavika Jain and Khushbu Jain to the shareholders of Upasana Finance opens on Friday. After buying out the promoters of Upasana Finance, buyers are launching the mandatory open offer to acquire an additional 26 per cent in the Chennai-based firm for ₹4.45 crore.
The Jains are offering ₹40 a share to shareholders. Independent directors have said that the offer price is in line with the regulation prescribed by SEBI.