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 Just Right Life Limited (Formerly known as Stepping Stone Constructions Private Limited) (“Acquirer 1”) and Ms. Sukriti Garg (“Acquirer 2”) (hereinafter collectively referred to as “Acquirers") to the public shareholders of Justride Enterprises Limited (“Target Company”) to acquire up to 3,83,022 (Three Lakh Eighty-Three Thousand Twenty Two) fully paid-up equity shares of face value of Rs.10/- (Rupees Ten Only) each (“Equity Share”), representing the 26% of the voting share capital (as defined below) of The Target Company at a price of Rs.8.15/- (Rupees Eight & Fifteen paise Only) per Equity Share, payable in cash, in pursuance of Regulation 3(1), 4 and other applicable regulations of the SEBI (SAST) Regulations, for substantial acquisition of Equity Shares and Voting Rights pursuant to execution of the SPA between the Acquirers and the Seller (as defined below), on April 20, 2022, from June 17, 2022 to June 30, 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 – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
June 16, 2022 |