| Opening of Offer to Buy – Acquisition Window (Buyback) for eClerx Services 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. 20190207-23 dated 07 Feb 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 eClerx Services Limited (the “Company”), has announced cash offer to buyback of not exceeding 17,46,666 (Seventeen Lakhs Forty Six Thousand Six Hundred Sixty Six) fully paid-up equity shares of face value of Rs. 10/- (Rupees Ten only) ("Equity Shares" or “Shares”), constituting upto 4.52% of the total number of equity shares in the total paid-up equity share capital of the Company as on March 31, 2018 ("Buy-back"). The buy-back will be undertaken on a proportionate basis, from the fully paid-up Equity Shareholder(s) / beneficial owner(s) of the equity shares of the company as on Friday, May 10, 2019 ("Record date"), by way of a Tender Offer through stock exchange mechanism for cash at a price of Rs. 1,500/- (Rupees One Thousand Five Hundred Only) per equity share for an aggregate amount up to Rs. 262 crore (Rupees Two Hundred and Six Two Crore Only) ("Buy-back size") from May 31, 2019 to June 14,2019
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.
Girish Joshi
Chief General Manager
Listing Business
May 28, 2019
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