Notice No.   20230418-48   Notice Date   18 Apr 2023
Category   Trading   Segment   Equity
Subject   Opening of Offer to Buy – Acquisition Window (Takeover) of Joy Realty Limited
Attachments   LOF_JOY.pdf ;

 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. Kapil Jeetendra Kothari (‘Acquirer 1’), Mr. Poojan Keyurbhai Mehta (‘Acquirer 2’), Mr. Prit Keyurbhai Mehta (‘Acquirer 3’)  And Mr. Tarang Devendrakumar Shah (‘Acquirer 4’) (hereinafter collectively referred to as ‘Acquirers’) to the existing public shareholders of Joy Realty Limited (“Target Company”) to acquire up to 6,24,853 (Six Lakhs Twenty-Four Thousand Eight Hundred and Fifty-Three Only) Equity Shares of face value of INR 10/- (Rupees Ten) each (‘Offer Shares’) each at a price of INR 27/- (Rupees Ten) each representing 26.00% of the emerging voting capital of the Target Company in, pursuant to Regulations 3(1) and 4 and other applicable regulations of SEBI (SAST) Regulations, 2011 and subsequent amendments thereto for substantial acquisition of shares and control over the Target Company, from April 21, 2023 to May 8, 2023 (excluding May 01, 2023 and May 05, 2023 due to SEBI Holiday).

Target Company is listed at The BSE Limited (BSE) and Metropolitan Stock Exchange of India Limited (MSEI).

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 –


Mangesh Tayde

Assistant General Manager

Listing Sales & Ops

April 18, 2023