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Open offer for RayBan investors

Mumbai, Oct. 30: Luxottica Group SPA and RayBan Indian Holdings Inc will make an offer to acquire up to 48.95 lakh equity shares of RayBan Sun Optics at a price of Rs 104.30 apiece, along with Rs 70.68 per share in interest.

It represents 20 per cent of the equity capital of the company that was earlier known as Bausch & Lomb India.

The interest has been computed at the rate of 15 per cent per annum, from August 27,1999 till March 1, 2004 the day when the money is supposed to be paid. However, the amount could change if the actual date is different.

The Securities Appellate Tribunal order of August 29 allows those holding shares of RayBan Sun Optics to participate in the open offer.

The date specified for the open offer announcement is November 3. It will open on January 2 and close on January 31.

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