| Offer for Sale for Andhra Paper Limited |
This is in continuation of the Exchange notice no. 20200624-27 dated June 24, 2020 for Offer for Sale (OFS) whereby the “Seller”, by International Paper Investments (Luxembourg) S.A.R.L. (proposed to sell up to 39,77,004 (10%) equity shares of the Company of face value of INR 10 /- each with an additional option to sell up to 28,64,000 (7.2%) equity shares of Andhra Paper Limited (“the Company”).
The Promoter (“Seller”), International Paper Investments (Luxembourg) S.A.R.L, has informed the Exchange of its intention to exercise the Oversubscription Option in the Offer to the extent of 28,64,000 Equity Shares (representing approximately 7.2% of the total issued and paid-up Equity Share capital of the Company) in addition to 39,77,004 Equity Shares (representing approximately 10% of the total issued and paid-up Equity Share capital of the Company) forming part of the Base Offer Size. Accordingly, the aggregate number of Sale Shares will be up to 68,41,004 Equity Shares (representing 17.2% of the total issued and paid-up Equity Share capital of the Company) of which, up to 6,84,100 Equity Shares (representing approximately 1.72%% of the total issued and paid-up Equity Share capital of the Company) would be available as part of the Offer on T+1 day i.e. June 26, 2020.
A copy of the letter dated June 25, 2020 submitted by the (“the Seller”), International Paper Investments (Luxembourg) S.A.R.L is attached for information.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
June 25, 2020
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