Notice No.   20211228-4   Notice Date   28 Dec 2021
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of Rama Steel Tubes Ltd
Attachments   RSTL-LoF.pdf ;

 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, 20201102-43 dated 02 Nov 2020, 20210825-62 dated Aug 25,2021 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. Naresh Kumar Bansal (“Acquirer”) to    the existing shareholders of  RAMA STEEL TUBES LIMITED  to acquire 43,66,440 Equity Shares of Rs. 5/- each representing 26% of the Equity Share Capital/Voting Capital of Rama Steel Tubes Limited (“RSTL”/“Target Company”) at an Offer Price of Rs. 122/- (Rupees One Hundred and Twenty Two only) per Equity Share from the Public Shareholders of the Target Company in terms of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto [“SEBI (SAST) Regulations, 2011”/“Regulations”]. However, the Offer Price of Rs. 183.17 (Rupees One Hundred Eighty Three and Paise Seventeen only) (“Offer Price for continuing public shareholders”) per Equity Share (Offer Price of Rs. 122 and an interest of Rs. 61.17 calculated @10% p.a. on the said Offer Price till the date of actual payment of consideration), will be paid only to those public shareholders who were holding equity shares on the triggered date i.e. January 25, 2017 and continued to be shareholders on the closure date of the Offer and have validly tendered shares out of shares held on January 25, 2017 in response to the Offer from December 31, 2021 to January 13, 2022.


It may be noted that the Interest component of Rs.  61.17 per share which is included in the Offer Price of Rs. 183.17 for the continuing public shareholders (as defined in the Letter of Offer) will be settled separately by Registrar to the Offer, to the shareholders, who have validly tendered their shares in this Open Offer.


 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 –



Atul Dhotre

Senior Manager

Listing Sales & Ops

December 28, 2021