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. Rahul Gupta (‘Acquirer 1’), Mr. Rohan Gupta (‘Acquirer 2’) (hereinafter collectively referred to as ‘Acquirers’) Sudesh Business Ventures Private Limited (Hereinafter collectively referred to as ‘Acquirers along with PAC’) to the existing public shareholders of SG Finserve Limited (“Target Company”) to acquire upto 1,07,30,980 (One Crore Seven Lakh Thirty Thousand Nine Hundred and Eighty) Equity Shares of face value of INR 10/- (Rupees Ten) each (‘Offer Shares’) each at a price of INR 107/- (Rupees One Hundred and Seven ) which includes interest of INR 5.70 (Indian Rupees Five and Seven Zero Paisa Only) at rate of 10 % per annum each representing 26.00% of the fully paid capital of the Target Company in, pursuant to Regulation 3(2) of SEBI (SAST) Regulations, 2011 and subsequent amendments thereto for substantial acquisition of shares in the Target Company, from April 28, 2023 to May 15, 2023 (excluding May 01, 2023 and May 05, 2023 due to SEBI Holiday).
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
April 27, 2023 |