| Opening of Offer to Buy – Acquisition Window (Takeover) for Adi Rasayan 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 Open Offer (“Offer”) by Mrs. Sneha Sadhwani (“Acquirer”) and Mr. Rajesh Sadhwani (“PAC”) to the equity shareholders of Adi Rasayan Limited (hereinafter referred to as the “Target Company”) to acquire 73,25,757 fully paid-up equity shares of Rs.10/- each (“the Equity Shares”), representing 26.46% of the Diluted Share & Voting Capital (“the Offer Size”) at Rs. 10/- (Rupees Ten Only) per fully paid-up equity share (“the Offer Price”) payable in cash pursuant to regulations 3(1) & 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (“SEBI (SAST) Regulations”) from November 26, 2018 to December 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
November 22, 2018 |