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 Takeovers, 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, 20190207-23 dated 07 Feb 2019 and 20200528-32 dated 28 May 2020 and 20201102-43 dated 02 Nov 2020 and 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 Offer for Voluntary Delisting of Equity Shares is being made to the Public Shareholders of Bhagyanagar Properties Limited (“Company”) by (i) Mr. Narender Surana (ii) Mr. Devendra Surana (iii) Mrs. Sunita Surana (iv) Mrs. Namrata Surana (v) M/s. Surana Infocom Private Limited (vi) M/s. Surana Telecom and Power Limited and (vii) M/s. Bhagyanagar Securities Private Limited (collectively referred to as the ‘Acquirers’), all forming part of the Promoter and Promoter Group of the Company, to acquire and delist 79,98,755 Equity Shares representing 25.00% of the total equity shares of face value Rs. 2.00/- each of the total issued share capital of the Target Company, at the floor price of Rs. 37.83 (Rs Thirty Seven Rupees and Eighty Three Paisa only) per equity share through the reverse book-building process in accordance with the SEBI Delisting Regulations, from August 03, 2022 to August 10, 2022.
Letter of Offer is attached for your perusal.
Market participants are further requested to note that the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
July 29, 2022 |