Notice No.   20220413-10   Notice Date   13 Apr 2022
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of TTI Enterprise Ltd
Attachments   Letter of Offer_TTI Enterprise Limited.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 (“Offer”) is made by V S Ranganathan (“Acquirer 1”), Vasanthy Ranganathan (“Acquirer 2”), Bindu K C (“Acquirer 3”), Kanakavally Prathapan Karumanthra (“Acquirer 4”), Mridula Mukundan (“Acquirer 5”) and Sujith Venugopalan (“Acquirer 6”) (hereinafter collectively referred as “Acquirers”) to the public shareholders of TTI Enterprise Ltd (“Target Company”) to acquire up to either 76,21,327 (Seventy-Six Lakhs Twenty-One Thousand Three Hundred and Twenty-Seven) Equity Shares of face value Rs.10.00/- (Rupees Ten Only), representing 30.00% (Thirty Percent) of the Voting Share Capital or such number of Equity Shares held by the Public Shareholders excluding the Equity Shares held by Kashyapi Advisors LLP, Pragnay Advisors LLP, and Vanshi Infra Projects LLP, the deemed persons acting in concert with the present Promoters and members of the Promoter Group in accordance with the provisions of the SEBI (SAST) Regulations, whichever is lower, from the Public Shareholders of the of TTI Enterprise Limited by the Acquirers at a price of Rs.9.50/- (Rupees Nine and Fifty Paisa Only) per Equity Share from the Public Shareholders, in pursuance of Regulations 3 (1) and 4 of the SEBI (SAST) Regulations, for substantial acquisition of Equity Shares and voting rights capital accompanied with joint control over the management of the Target Company with the Deemed PACs, from April 19, 2022 to May 02, 2022.

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

April 13, 2022