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 a Cash Offer is made by Mr. Madhusudan Lakhotia (“Acquirer No 1”), Mrs. Jayshree Lakhotia (“Acquirer No 2”), Mr. Shyamsunder Lakhotia (“Acquirer No 3”), Mrs. Kanchandevi Lakhotia (“Acquirer No 4”), (hereinafter collectively referred to as the “Acquirers”) to the public shareholders of Lakhotia Polyesters (India) Limited (“Target Company”) to acquire 27,24,000 (Twenty Seven Lakhs Twenty Four Thousand Only) Fully Paid Up Equity Shares of face value of Rs. 10/- (Rupees Ten only) each, representing 26.01% % of the Paid Up Equity Share Capital of the Target Company at a price of Rs. 12/- (Rupees Twelve only) per Equity Share, pursuant to Regulations 3(2) & 3(3) and all other applicable provisions of the SEBI (SAST), Regulations 2011, from May 15, 2023 To May 26, 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
Deputy General Manager
Listing Sales & Ops
May 11, 2023 |