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NOTICES
Notice No.   20210204-6   Notice Date   04 Feb 2021
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of Ovobel Foods 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 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 Mr. M P Satish Babu (Acquirer 1), Mr. Sharad M S (Acquirer 2), Mrs. Sukanya Satish (Acquirer 3), Mr. Syed Fahad (Acquirer 4), Mr. Bhavihal Gurusiddappa Channappa (Acquirer 5) (collectively referred to as “Acquirers”) to acquire upto 2,730,208 Equity Shares of face value Rs. 10 each representing 26.00% of the total Paid-up and Voting Share Capital of Ovobel Foods Limited (“Target Company”) from the Eligible Shareholders of the Target Company at a price of Rs. 49.41 (Rupees Forty Nine and Paise Forty One only) per equity share of Rs. 10 each (“Offer Price”) payable in cash, pursuant to Regulation 3(1) and Regulation 4 and other applicable regulations of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended from time to time (“SEBI SAST Regulations”). from February 08, 2021 to February 22, 2021.

 

Letter of Offer is herewith 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

February 04, 2021