| Opening of Offer to Buy – Acquisition Window (Buyback) for Kaveri Seed Company 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, Buyback and Delisting 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 Kaveri Seed Company Limited (“Company”), has announced a Cash offer to Buyback up to 29,63,000 (Twenty Nine Lakh, Sixty Three Thousand Only) fully paid-up equity shares of face value Rs.2/- each (“Equity Shares”), representing 4.48% of the total number of Equity Shares in the issued, subscribed and paid-up Equity Share capital of the Company as at March 31, 2018, from all the Equity Shareholders as on the Record Date, i.e. August 3, 2018 on a proportionate basis, through the “Tender Offer” route, at a price of Rs.675/- (Rupees Six Hundred and Seventy Five Only) per Equity Share payable in cash, for an aggregate amount of Rs.200,00,25,000/- (Rupees Two Hundred Crores and Twenty Five Thousand Only) (the “Buyback Size”), from August 27, 2018 to September 07, 2018.
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
August 24, 2018
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