|Opening of Offer to Buy – Acquisition Window (Takeover) for Indo Rama Synthetics (India) 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. 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 Indorama Netherlands B.V. ("Acquirer") along with the person acting in concerts Indorama Netherlands Cooperatief U.A. (“PAC 1”), Indorama Ventures Global Services Limited (“PAC 2”) and Indorama Ventures Public Company Limited (“PAC 3”) to the public shareholders of Indo Rama Synthetics (India) Limited (“Target Company”) for a cash offer of Rs. 36/- (Rupees Thirty-Six Only) per fully paid up equity share of the face value of Rs. 10/- (Rupees Ten Only) each, to acquire upto 6,54,36,231 (Six Crores Fifty-Four Lakhs Thirty-Six Thousand Two Hundred Thirty-One) representing 24.53% of the expanded voting share capital or 25.06% of the emerging share capital, under the SEBI SAST regulations from May 14, 2019 to May 27, 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