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 is made by Pioneer Jellice India Private Limited (“Acquirer 1”) & Ashok Matches and Timber Industries Private Limited (“Acquirer 2”) (Acquirer 1, Acquirer 2 hereinafter collectively referred to as “Acquirers”) to the public shareholders of Narmada Gelatines Limited (“Target Company”) At a price of INR Rs.303/- (Rupees Three Hundred and Three only) (“Offer Price”) per Equity Share, payable in cash, to acquire up to 15,12,398 (Fifteen Lakhs Twelve Thousand Three Hundred and Ninety Eight only) fully paid-up equity shares (“Offer Shares”), representing 25% (Twenty Five per cent) of the Total Voting Share Capital of the Target Company on a fully diluted basis, as of the tenth working day from the closure of the tendering period of the open offer, pursuant to the SPA (as defined below) in accordance with Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”), August 24,2023 To September 06, 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
August 18, 2023 |