Chennai: Dubai-based Varkey Group’s open offer for a 20% stake in troubled Everonn Education Ltd at 528 per share started on Monday and will close on 31 December.

A file photo of P. Kishore, former MD, Everonn Education

The Central Bureau of Investigation (CBI) in August arrested Everonn co-founder and managing director P. Kishore for allegedly bribing a a tax official. On 19 September, the company said it has sold a 12% stake to Dubai-based Varkey Group’s GEMS Education for 138.23 crore.