|Opening of Offer to Buy – Acquisition Window (Takeover) for Pulsar International 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 Takeover, 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. 20190424-35 dated April 24, 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 Open Offer is made by Bluerock Investment Quotient LLP (“Acquirer”) to the public equity shareholders of Pulsar International Limited (herein referred to as the “Target Company” or “Pulsar”) to acquire 7,80,000 equity shares of face value of Rs. 10/- (Indian Rupees Ten Only) each, representing 26.00% of total fully paid up equity share capital (“Voting Share Capital”) of Target Company for cash, at price of Rs. 14/- (Indian Rupees Fourteen Only) per equity share from the eligible equity shareholders, pursuant to Regulation 3(1) & 4 read with Regulation 16 (1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereof (“SEBI (SAST) Regulations”) from September 13, 2019 to September 26, 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 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Additional General Manager
Listing Sales & Ops
September 12, 2019