Reliance Land and Reliance Capital, which had offered to buy up to 21% of the equity of Adlbas at Rs 183 per share, has not been able to get even a single share in the open offer.According to a release issued by Adlabs to the BSE today, Ambit Corporate Finance, which managed the offer on behalf of Reliance Land and Reliance Capital, announced that no shareholder tendered his share in the open offer."As against the proposed offer to buy up to 83.60 lakh shares at Rs 183 per share, NIL shares were acquired in the offer. The post-offer share holding of the acquirers (Reliance Land and Reliance Capital), which was to move up to 2.64 crore shares (representing 66.37%) of the post -issue paid-up voting equity capital of Adlabs at 3,98,00,750 shares, remains at 1.80 crore shares (representing 45.36%). This is apart from the 38 lakh warrants convertible into shares at Rs 175.20 per share" the release added.
