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Citigroup has made an open offer to acquire 20 per cent stake in textile company JBF Industries Ltd at a price of Rs 46.50 per share.
Citigroup Venture Capital International Growth Partnership Mauritius Ltd and Citigroup Venture Capital International Jersey Ltd have made an offer to shareholders to acquire 93.10 lakh equity shares representing 20 per cent stake at a price of Rs 46.50 per share, JBF industries informed the Bombay Stock Exchange on Wednesday.
The open offer is under Regulation 10 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, it said.