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. Dhruv Gupta (“Acquirer 1”), Mrs. Meenakshi Gupta (“Acquirer 2”),(Collectively are hereinafter referred to as the “Acquirers”) to the existing public shareholders of Kintech Renewables Ltd (“Target Company”) to acquire up to 10,00,000 (Ten Lakhs Only) equity shares face value of Rs.10.00/- (Rupees Ten Only) each, representing 25.00% (Twenty Five Percent) of the voting share capital of the Target Company, at an offer price of Rs.450/- (Rupees Four Hundred & Fifty Only) per offer share to the public shareholders of the Target Company, pursuant to Regulations 3(1) & 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”),from September 08,2023 to September 22, 2023 (Excluding September 19, 2023 due to Trading 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
Deputy General Manager
Listing Sales & Ops
September 05, 2023 |