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 Savita Oil Technologies Limited (“The Company”) has announced an Offer for buyback upto 2,51,000 (Two Lakh Fifty-One Thousand) fully paid-up equity shares of face value of Rs. 10/- (Rupees Ten only) each (“Equity Shares”) representing up to about 1.78% of the total number of Equity Shares of the Company, from all the equity shareholders/beneficial owners of the Company who hold Equity Shares as on the Record Date i.e. Friday, March 05, 2021 (“Record Date”) on a proportionate basis, through the tender offer using stock exchange mechanism (“Tender Offer”), at a price of Rs.1400/- (Rupees One Thousand Four Hundred Only) (including premium of Rs.1390/-) per Equity Share (“Buyback Price”) for an aggregate maximum amount of upto Rs.35,14,00,000/- (Rupees Thirty-Five Crore Fourteen Lakh Only) (“Buyback Size”), from April 15, 2021 to April 29, 2021
Letter of Offer is herewith attached for perusal.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
April 12, 2021
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