Notice No.   20230221-20   Notice Date   21 Feb 2023
Category   Trading   Segment   Equity
Subject   Outcome of Reverse Book Building Process under regulation 17(3) of the Delisting Regulations of Phaarmasia Limited
Attachments   Outcome of RBB- Phaarmasia Delisting offer - February 21, 2023.pdf ;

 This is in continuation with Exchange notice no 20230213-28 dated February 13, 2023 for the Delisting Offer made by Phaarmasia Limited (“Target Company”) is made by Maneesh Pharmaceuticals Limited (the “Promoter Acquirer”) to the public shareholders of Target company for which the bidding period closed on February 21, 2023.

Venture Capital & Corporate Investment Private Limited (“Registrar to the Delisting Offer”) and Saffron Capital Advisors Private Limited (“Manager to the Delisting Offer”) have analysed the bid data received from BSE and in consultation with the Acquirer, the outcome of the Reverse Book Building Process (“RBBP”) is hereby disclosed and announced in terms of Regulation 17 (3) of the SEBI Delisting Regulations.

In view of the failure of Delisting Offer of Phaarmasia Limited, all shares tendered in the Delisting Offer shall be returned/ released to the respective investors/ public shareholders by Clearing Corporation (ICCL) by Wednesday, February 22, 2023 on best effort basis.

A copy of the letter dated February 21, 2023 from the Manager to the Issue submitted to the Exchange is attached for your information.


All Market Participants, Trading Members and Custodians are requested to take note of the same. 


Mangesh Tayde

Assistant General Manager

Listing Sales & Ops

February 21, 2023