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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 Nov 02, 2020 and 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 Gail (India) Limited (“The Company”) has announced an Offer for buyback of up to 5,69,85,463 (Five Crore Sixty Nine Lakh Eighty Five Thousand Four Hundred And Sixty Three) fully paid-up equity shares of face value Rs.10 (Rupees Ten Only) each (“Shares” Or “Equity Shares”), representing 1.28% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the company, from all the existing shareholders/ beneficial owners of equity shares of the company as on the record date i.e. Friday, April 22, 2022 on a proportionate basis, through the “Tender Offer” process at a price of Rs.190/- (Rupees One Hundred And Ninety Only) per equity share for an aggregate consideration not exceeding Rs.1082,72,37,970 (Rupees One Thousand Eighty Two Crore Seventy Two Lakh Thirty Seven Thousand Nine Hundred And Seventy Only) from May 25, 2022 to June 07, 2022.
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
May 20, 2022 |