1. Trading Members are hereby informed that Techno Electric & Engineering Company Ltd (Scrip code: 542141) has announced buyback of its fully paid-up equity shares of face value of Re. 2/- each from the Open Market through electronic trading mechanism of the Exchange. The Maximum Buyback Price would not exceed Rs. 325/- (Three Hundred and Twenty Five Rupees only) per equity share payable in cash for an aggregate amount not exceeding Rs. 130 crores (Rupees One Hundred and Thirty crores only)
2. Proposed timetable for buyback:
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Date of Opening of the Buyback
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July 20, 2022
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Last Date for the Buyback
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Earlier of:
a) January 19, 2023 (i.e. 6 (six) months from the date of the commencement of the Buyback); or
b) when the Company completes the Buyback by deploying the amount equivalent to the Maximum Buyback
Size; or
c) at such earlier date as may be determined by the Board or its Committee of Directors, after giving notice of such earlier closure, subject to the Company having deployed an amount equivalent to the Minimum Buyback Size (even if the Maximum Buyback Size has not been reached or the Maximum Buyback Shares have not been bought back), provided, that all payment obligations relating to the Buyback shall be completed before the last date for the Buyback.
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3. Broker Members for buyback:
The company has appointed the following BSE Trading Members through whom the purchases and settlement on account of the buyback would be made:
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Name of the Member
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Clearing No
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Trans Scan Securities Private Limited
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3038
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4. Details of Shares held in DEMAT Form.
The Trading Members may note that the Equity Shares held in DEMAT form can be offered for Buyback to the Company in rolling settlement, as per details mentioned below:
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Scrip Code No
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542141
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Market Lot
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1 Share
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Scrip ID
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TECHNOE *
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5. Circuit Filters, Margins, Capital Adequacy Norms, Auction, Close out, Bad Delivery, Arbitration, etc. are applicable in case of buyback as in the case of the normal trading.
6. Institutional Investors are allowed to participate in the buyback.
7. The documents are available in Department of Corporate Services for inspection. In case of any queries /clarifications on the scheme of buyback, Trading Members may please contact the under mentioned persons:
NICHE TECHNOLOGIES PRIVATE LIMITED
3A, Auckland Place, 7th Floor, Room No. 7A & 7B, Kolkata – 700 017
Tel No.: +91 33 2280- 6616/6617/6618
E-maill: nichetechpl@nichetechpl.com
- Merchant Banker to the Buyback:
HORIZON MANAGEMENT PRIVATE LIMITED
19 R N Mukherjee Road, Main Building, 2nd Floor
Kolkata- 700 001
Tel.: +91 33 46000607
Contact Person: Mr. Manav Goenka
Email: manav.goenka@horizon.net.co
Niranjan Brahma
C-218, Ground Floor (GR-2), Sector 63, Noida, Uttar Pradesh, 201307
Email: desk.investors@techno.co.in
Tel: 0120-2406030,
· At the Exchange:
Clearing & Settlement Department -
Mr. Nilesh Shah/Ajay Darji - Extn: 022-2272-8704/8468 (For Clearing & Settlement)
Trading Department -
Trading Operations - Extn: 022-2272- 8376 (For Trading Related)
Help desk - Extn: 61363100 (Hunting) (For BOLT System)
Listing Operations Department –
Mr. Raghavendra Bhat - Extn: 022-2272-8915 (For General Queries)
Rupal Khandelwal
Assistant General Manager
Tuesday, July 19, 2022 |