In the short term, I'm not sure what split they negotiated. But on an ongoing basis, a 65/35 split of profits means the costs will also split 65/35.
Might be a good idea to see if any of the earlier announcements regarding the JV spell out any obligations either TNR or Varun have towards each other as part of the deal.
Ann: Appendix 3B Conversion of Listed Options , page-12
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| Open | High | Low | Value | Volume |
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|---|---|---|
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