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Sunday, Aug 28, 2005
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Reliance Capital: Reject

SHAREHOLDERS of Reliance Capital can reject the offer made by AAA Enterprises and Mr Anil Ambani. Acceptance of the offer will result in a substantial decline in the value of their holdings of the stock.

The offer price of Rs 231 is at a discount of almost 50 per cent to the prevailing market price. The tender offer itself has been made to satisfy regulatory requirements and has not been made to enhance the promoter's stake in the company.

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