| Opening of Offer to Buy – Acquisition Window (Buyback) for Indiabulls Ventures Limited |
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 Takeovers, 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, and 20190207-23 dated 07 Feb 2019 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 Indiabulls Ventures Limited (the ‘’Company”), has announced an offer for Buyback of up to 6,66,66,666 (Six Crores Sixty Six Lakhs Sixty Six Thousand Six Hundred Sixty Six only) fully paid-up equity shares of the face value of Rs. 2/- (Rupees Two) each (“Equity Shares”), representing 12.61% of the total number of fully paid up equity shares of the Company, as on September 30, 2019, from all the Eligible Equity Shareholders holding fully paid up equity shares (“Equity Shareholders”) as on the Record Date, on a proportionate basis, through the “Tender Offer” route, at a price of Rs. 150/- (Rupees One Hundred and Fifty Only) per Equity Share (“Maximum Buy-back Price”) payable in cash for a total consideration not exceeding Rs. 1,000 Crores (Rupees One Thousand Crores Only), from January 15, 2020 to January 28, 2020.
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 the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
January 10 ,2020
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