|Opening of Offer to Buy – Acquisition Window (Delisting) for Bhagyanagar Properties 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 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, 20190207-23 dated 07 Feb 2019 and 20200528-32 dated 28 May 2020 and 20201102-43 dated 02 Nov 2020 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 Offer for Voluntary Delisting of Equity Shares to the Public Shareholders of Bhagyanagar Properties Limited (“Company”) is made by (i) Mr.Narender Surana, (ii) Mr.Devendra Surana, (iii) Mrs.Sunita Surana, (iv) Mrs.Namrata Surana, (v) M/s.Surana Infocom Private Limited, (vi) M/s.Surana Telecom and Power Limited and (vii) M/s. Bhagyanagar Securities Private Limited (collectively referred to as the ‘Acquirers’), all forming part of the Promoters and Promoter Group of the Company to acquire 79,98,755 Equity Shares of the Company representing 25.00% of the Share Capital, held by the Public Shareholders at a Floor Price of Rs. 26.00 per Equity Share of face value of Rs. 2/- each of the Company through the reverse book-building process in accordance with the Delisting Regulations. from April 23, 2021 to April 29, 2021.
Letter of Offer is attached for your perusal.
Market participants are further requested to note that the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Listing Sales & Ops
April 20, 2021