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NOTICES
Notice No.   20230106-58   Notice Date   06 Jan 2023
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of Savant Infocomm Limited
Attachments   LOF-Savant Infocomm.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 Mr. Laxman Ashok Savalkar ("Acquirer 1") and Mr. Girish Kamalkishor Sarda ("Acquirer 2") (hereinafter collectively will be referred as “Acquirers”) to the existing public shareholders of Savant Infocomm Limited (“Target Company”) to acquire up to 8,78,878 (Eight Lakhs Seventy Eight Thousand Eight Hundred Seventy Eight Only) Equity shares of Rs. 10/- each representing 26.00% of the existing equity and voting share capital of the Target Company at a price of Rs. 3.00/- per share (“Offer Price”) payable in cash, pursuant to the Regulation 3(1) and Regulation 4 of the SEBI (SAST) Regulations, 2011 and subsequent amendments thereof for substantial acquisition of shares / voting rights accompanied with change in control, from January 10, 2023 to January 23, 2023.

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.

 

Mangesh Tayde

Assistant General Manager

Listing Sales & Ops

January 06, 2023