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NOTICES
Notice No.   20230209-7   Notice Date   09 Feb 2023
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of Yarn Syndicate Limited
Attachments   Letter of Offer_Yarn.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. Ravi Niranjan Pandya ("Acquirer") to the existing public shareholders of Yarn Syndicate Limited (“Target Company”) to acquire up to 9,75,000 (Nine Lakhs Seventy-Five Thousand) Equity Shares of the Face Value of Rs. 10.00/-(Rupees Ten Only) each representing 26.00% of the paid-up share capital of the Target Company at a price of Rs. 14.00/- (Rupees Fourteen Only) per fully paid up Equity Share payable in Cash, pursuant to Regulations 3(1) & 4 of SEBI (SAST) Regulations, 2011 and subsequent amendments thereto for substantial acquisition of shares and control over the Target Company, from February 15, 2023 to February 28, 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

February 09, 2023