Notice No.   20220627-47   Notice Date   27 Jun 2022
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of Shreyas Intermediates Limited
Attachments   Shreyas Letter of Offer.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 Krish Pharma Speciality Limited (“Acquirer”) to the public shareholders of Shreyas Intermediates Limited (“Target Company”) to acquire up to 61,20,405 Equity Shares of Rs.10/- each at an Offer Price per equity share of Rs.10/- each payable in cash, representing the entire public shareholding constituting 8.64%* of the voting share capital (as defined below) of the Target Company, in pursuance to Regulation 3(2), 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 Acquirer and the Seller, from June 28, 2022 to July 11, 2022.

(*As per SEBI (SAST) Regulations, the open offer under regulation 3 and 4 shall be for at least 26% of the total shares of the target company, as of 10th working day from the closure of the Tendering Period (as defined below). However, post-acquisition of Equity Shares under the SPA (as defined below), the public shareholding of the Target Company is 8.64%, and therefore, the Offer Shares (as defined below) represent 8.64% of the fully paid-up Voting Share Capital of the Target Company.)

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

June 27, 2022