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 Dr. Bhaskara Rao Bollineni (“Acquirer 1”) and Mr. Bhavanam Ruthvik Reddy (“Acquirer 2”) (hereinafter collectively referred to as ‘Acquirers’) to the existing public shareholders of Som Datt Finance Corporation Limited (“Target Company") to acquire upto 26,02,073 equity shares of face value Rs. 10 each, representing 26.00% of the total outstanding, issued and fully paid up equity share capital on a fully diluted basis carrying voting rights of the Target Company at a price of Rs. 33.88 (Rupees Thirty-Three And Paise Eighty Eight Only) per fully paid up equity share of face value Rs. 10 each (“Offer Price”), plus Applicable Interest of Rs. 0.92 (Rupees Zero And Paise Ninety Two Only) per equity share amounting to Rs.34.80 (Rupees Thirty Four And Paise Eighty Only) per equity share (“Offer Price plus Applicable Interest”), payable in cash, in accordance with the provisions of Regulation 18(11) and 18(11A) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, including amendments thereto (“Takeover Regulations”) and pursuant to regulations 3(1) and 4 of the Takeover Regulations for substantial acquisition of equity shares and voting rights accompanied with change in control and management of the Target Company, from May 29, 2023 to June 09, 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 24, 2023 |