|Opening of Offer to Buy – Acquisition Window (Takeover) of Punjab Alkalies and Chemicals Limited
This is in continuation of the Exchange notice no. 20200914-10 dated September 14, 2020 for Offer to Buy (OTB) whereby Open Offer is made by Flowtech Industrial Projects Private Limited (Acquirer 1), Flowtech Chemicals Private Limited (Acquirer 2), Mr. Sukhbir Singh Dahiya (Acquirer 3), Mr. Jagbir Singh Ahlawat (Acquirer 4), Mr. Jatin Dahiya (Acquirer 5), Mrs. Parerna Ahlawat (Acquirer 6), (collectively referred to as “Acquirers”) along with person acting in concert, Mrs. Dayawati Dahiya (PAC 1), Mr. Mayank Ahlawat (PAC 2), Ms. Garima (PAC 3), Himalaya Alkalies & Chemicals Limited (PAC 4), Advance Chemicals (PAC 5), Tara Mercantile Private Limited (PAC 6) (collectively referred to as “PACs”), to the Eligible shareholders of Punjab Alkalies and Chemicals Limited (“Target Company)
All Market Participants are hereby informed that the Manager to the issue, Sundae Capital Advisors Private Limited has informed the Exchange that the Acquirers and the PACs have revised the Offer Price upwards from Rs. 39.10 (Rupees Thirty Nine and Paise Ten only) per Equity Share to Rs. 45.00 (Rupees Forty Five only) per Equity Share (“Revised Offer Price”) and Number of Shares upwards from 7,056,607 Equity Shares, representing 26.00% of the total issued Share capital and 26.03% of voting capital of the Target Company to 9,200,000 (Ninety Two Lakh) Equity Shares (“Revised Offer Shares”), representing 33.90% of the total issued Share capital and 33.94% of voting capital of the Target Company (“Revised Offer Size”).
A corrigendum issued in this regard is attached for information, further details for this offer to buy would be available on BSE Website – www.bseindia.com.
Additional General Manager
Listing Sales & Ops
September 15, 2020