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NOTICES
Notice No.   20221031-18   Notice Date   31 Oct 2022
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of Aishwarya Technologies And Telecom Ltd
Attachments   Aishwarya_Letter of Offer.pdf ;
Content

 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 Srinivasa Rao Mandava ("Acquirer") to the existing public shareholders of Aishwarya Technologies And Telecom Ltd (“Target Company”) to acquire Upto 62,12,425 Equity Shares of Rs.5/- each at an Offer Price per equity share of Rs.2/- each payable in cash, representing 26% of the issued, subscribed, paid up and voting capital of the Target Company, pursuant to regulation 3(1) & 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI SAST Regulations”) for substantial acquisition of shares/voting rights accompanied with change in control and management of the Target Company, from November 04, 2022 to November 18, 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

October 31, 2022