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NOTICES
Notice No.   20200528-7   Notice Date   28 May 2020
Category   Company related   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Buyback) of Coral India Finance and Housing Limited
Attachments   Letter of Offer.pdf ;
Content

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 De-listing, vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, and 20190207-23 dated 07 Feb 2019 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 Coral India Finance And Housing Limited  (the “Company”), has announced an Offer to Buyback up to 1,24,00,000 (One Crore Twenty Four Lakhs Only) fully paid-up equity shares of the Company of face value of Rs. 2/- (Rupees Two only) each (“Equity Shares”), representing up to 24.86% of the total number of issued, subscribed and paid up Equity Shares of the Company, from all the equity shareholders/beneficial owners of the Company who holds Equity Shares as on the record date i.e. Friday, April 17, 2020 (“Record Date”), on a proportionate basis, through the tender offer using stock exchange mechanism (“Tender Offer”), at a price of Rs.17/- (Rupees Seventeen Only) per Equity Share (“Buyback Price”) for an aggregate amount of up to Rs. 21,08,00,000/- (Rupees Twenty-One Crores Eight Lakhs only) (“Buyback Size”), from June 01, 2020 to June 12, 2020.

Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.

 

 

Bhushan Mokashi

Additional General Manager

Listing Sales & Ops

May 28, 2020