|Opening of Offer to Buy – Acquisition Window (Buyback) Majesco 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. 20170210-16 dated Feb 10, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020has 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 Majesco Limited (“the Company”) has announced offer for buyback of up to 74,70,540 (Seventy Four Lakh Seventy Thousand Five Hundred And Forty Only) fully paid-up equity shares of face value of Rs. 5/- (Rupees Five Only) each of the Company, representing approximately 24.78% of the total paid-up equity share capital of the Company (in terms of no. of equity shares), at a price of Rs. 845/- (Rupees Eight Hundred And Forty Five Only) per Equity Share (“Buyback Price”) payable in cash for an aggregate amount of up to Rs. 631,26,06,300/- (Rupees Six Hundred Thirty One Crore Twenty Six Lakh Six Thousand Three Hundred Only) (“Buyback Size”), on a proportionate basis through the “Tender Offer” route as prescribed under the buyback regulations from all of the shareholders of the company who hold equity shares as on the Record Date, i.e. Friday, November 13, 2020, with offer period being from November 27, 2020 To December 11, 2020.
Letter of Offer is herewith attached for perusal.
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.
Listing Sales & Ops
November 24, 2020