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NOTICES
Notice No.   20201231-4   Notice Date   31 Dec 2020
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) Hindustan Everest Tools Limited
Attachments   Letter of Offer - Final_20201223212523.pdf ; HETL-Open Offer-Corrigendum.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 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 2020 and 20201102-43 dated 02 Nov 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 Algoquant Financials LLP (“Acquirer”) along with Mr. Dhruv Gupta (“Pac1”) and Mr. Devansh Gupta (“Pac2”) (collectively referred to as “PACS”) to the Public shareholders  of Hindustan Everest Tools Limited (“Target Company”) to acquire upto 4,17,872 equity shares of face value of Rs. 10/- (Rupees Ten Only) each, representing 26.00% of total fully paid up equity share capital (“voting share capital”) of Target Company for cash, at price of Rs. 97/- (Rupees Ninety Seven Only) per equity share from the eligible equity shareholders, pursuant to Regulation 3(1), 4, 5(1) & 5(2) read with Regulation 16 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereof (“SEBI (SAST) Regulations”), from January 1, 2021 to January 14, 2021.

 

The Letter of Offer and Corrigendum to Letter of Offer is attached for your perusal.

 

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.

 

 

Atul Dhotre

Senior Manager

Listing Sales & Ops

December 31, 2020