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 TIPS INDUSTRIES LIMITED (the “Company”), has announced an Offer to Buy back up to 13,50,000 (Thirteen Lakhs Fifty Thousand) fully paid-up equity shares of the Company of face value of Rs. 10/- (Rupees Ten only) each (“Equity Shares”), representing up to 9.43% 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 03, 2020 (“Record Date”), on a proportionate basis, through the tender offer using stock exchange mechanism (“Tender Offer”), at a price of Rs. 140/- (Rupees One Hundred and Forty Only) per Equity Share (“Buyback Price”) for an aggregate amount of up to Rs.18,90,00,000/- (Rupees Eighteen Crores Ninety Lakhs only) (“Buyback Size”), from June 02, 2020 to June 15, 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 29, 2020 |