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 Mr. Virendra Popatlal Shah (Acquirer 1), Mr. Bhavesh Virendra Shah (Acquirer 2), Mr. Bimal Virendra Shah (Acquirer 3), Mr. Dinesh Jagdishchandra Khokhani (Acquirer 4), Mr. Mahesh Jagdishchandra Khokhani (Acquirer 5) and Mr. Mehul Jagdishchandra Khokhani (Acquirer 6) (Hereinafter Collectively referred to as "Acquirers") to the existing public shareholders of Syschem (India) Limited (“Target Company”) to acquire up to 82,91,504 (Eighty Two Lacs Ninety One Thousands Five Hundred and Four Only) fully paid equity shares of face value of Rs. 10/- each representing 26% of the Emerging Share Capital of Target Company at a price of Rs.15.50/- (Rupees Fifteen and Paise Fifty Only) per fully paid equity share, pursuant to the Regulations 3(1) and Regulation 4 of Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 ("SEBI SAST Regulations"), from July 12, 2022 to July 25, 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
July 06, 2022 |