| Opening of Offer to Buy – Acquisition Window (Buyback) for Shanthi Gears 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 Shanthi Gears Limited (the “Company”), has announced Cash Offer for Buyback of up to 50,00,000 fully paid-up equity shares of face value of Re. 1/- each, representing approximately 6.12% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the Company, from the existing shareholders / beneficial owners of equity shares of the Company as on the Record Date, i.e., February 08, 2019, on a proportionate basis, through the “Tender Offer” route at a price of Rs. 140/- (Rupees One Hundred and Forty Only) per equity share for an aggregate amount not exceeding Rs. 70,00,00,000 (Rupees Seventy Crores Only) from March 13, 2019 to March 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 the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
March 11, 2019 |