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 and 20201102-43 dated 02 Nov 2020 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. Vishnukumar Vitthaldas Patel (“ACQUIRER”) & Mrs. Kamlaben Vitthalbhai Patel (“Persons Deemed To Be Acting In Concert” Or “Pac”) to the existing public shareholders of Jhaveri Credits And Capital Limited (“Target Company”) 16,80,458 (Sixteen Lakhs Eighty Thousand Four Hundred and Fifty-Eight) Equity Shares of the face value of Rs.10 each ("Offer Shares"), representing in aggregate 26% of voting share capital of the Target Company at a price of Rs.16/- (Rupees Sixteen) per fully paid-up Equity Share (the “Offer Price”) payable in Cash pursuant to and in compliance with Regulations 3(1) & 4 of SEBI (SAST) Regulations, 2011 and subsequent amendments thereto for substantial acquisition of shares and control over the Target Company. From July 03, 2023 to July 14, 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
June 28, 2023
|