| Opening of Offer to Buy – Acquisition Window (Buyback) for Coal India Limited |
Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015. The Exchange vide its notice no. 20150930-1 dated September 30, 2015, has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that Coal India Limited (“Company”) has announced cash offer for Buyback of not exceeding 10,89,55,223 (Ten Crores Eighty Nine Lakhs Fifty Five Thousand Two Hundred And Twenty Three) fully paid-up Equity Shares of face value of Rs.10 each, representing 1.72% of the total number of Equity Shares in the issued, subscribed and paid-up Equity Share capital of Coal India Limited, from all the existing shareholders/ beneficial owners of equity shares of the Company as on the record date i.e. Friday, September 9, 2016, on a proportionate basis, through the “Tender Offer” process at a price of Rs. 335/- (Rupees Three Hundred And Thirty Five Only) per Equity Share for an aggregate consideration not exceeding Rs. 3,650 crores (Rupees Three Thousand Six Hundred And Fifty Crores Only) from 3rd October, 2016 to 18th October, 2016.
Market participants are further requested to note that the details of this Offer to buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Dy. General Manager
Listing Sales & Ops
September 27, 2016
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