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 Takeover, 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, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020has 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 Mr. Anupam Gupta S/o Mr. Narain Gupta (“the Acquirer-1”) and Mr. Abhay Narain Gupta S/o Mr. Narain Gupta (“Acquirer-2”)(hereinafter collectively referred to as "Acquirers”) to the shareholders of IND RENEWABLE ENERGY LIMITED (“IREL” or “the Target Company” or “TC” or “the Company”) to acquire upto 7,90,000 Equity shares of Rs. 10/- each representing 26.10% of the existing equity and voting share capital of the Target Company at a price of Rs. 9.00/- per share (“Offer Price”), pursuant to Regulations 3 (1) and 4 and applicable provisions of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and amendments thereto, from June 30th,2020 to July 13th, 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 20190424-35 dated April 24, 2019 along with 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 29, 2020
|