Opening of Offer to Buy – Acquisition Window (Delisting) for TCI Developers Limited

• Notice No: 20220912-11
• Notice Date: 12 Sep 2022
• Category: Trading
• Segment: Equity

 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 to the Public Shareholders of TCI Developers Limited (“Target Company”) is made by TDL Real Estate Holdings Limited (the “Acquirer”) to acquire 9,61,337 Equity Shares representing 25.78% of the total paid up equity share capital of the Company from the Public Shareholders, at the floor price of Rs.358.22/- (Three Hundred Fifty-Eight and Twenty-Two Paisa) per Equity Share and indicative price of Rs.400/- (Four Hundred) per Equity Share of the Company through the reverse book-building process in accordance with the SEBI Delisting Regulations, from September 14, 2022 to September 20, 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

September 12, 2022