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 and 20200528-32 dated May 28, 2020 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 an Open Offer is made by Ronit Champaklal Shah (“The Acquirer 1”), Kalpanaben Champaklal Shah (“The Acquirer 2”) & Romit Champaklal Shah (“the Acquier 3) to acquire up to 8,67,785 (Eight Lakh Sixty Seven Thousand Seven Hundred Eighty Five) Fully Paid Up Equity Shares of the face value of Rs.10/ - each at an Offer Price per equity share of Rs.2/- each payable in cash, representing 26% of the issued, subscribed, paid up and voting capital pursuant to Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereof, from the public shareholders of IEL Limited (“Target Company”),from June 05, 2020 to June 18,2020
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
June 02, 2020
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