Calcutta Steel has been targeted by Bombay Steel for acquisition. One of the prime motivations for this proposed acquisition is huge accumulated loss of Rs. 5,000 million of Calcutta Steel. Bombay Steel is in 35% tax bracket. The acquirer has estimated that it would earn profit before tax of Rs.2,000 million every year for next 8 years and its cost of capital is 12%.

If the offer price of Calcutta Steel is Rs. 3,500 million, what would be the net payout by Bombay steel?