| Opening of Offer to Buy – Acquisition Window (Buyback) for Tata Investment Corporation 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 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, 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 Tata Investment Corporation Limited (the “Company”), has announced offer to Buyback fully paid up equity shares of Rs. 10/- (Rupees Ten Only) each of the Company up to 45,00,000 (Forty Five Lakhs) from the equity shareholders/ beneficial owners of equity shares of the Company as on January 11, 2019 (The “Record Date”), on a proportionate basis by way of a Tender Offer route through stock exchange mechanism at a price of Rs. 1000/- (Rupees One Thousand Only) per equity share payable in cash for an aggregate consideration not exceeding Rs. 450 crores (Rupees Four Hundred and Fifty Crores Only) from February 04, 2019 to February 15, 2019.
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 30, 2019 |