|Opening of Offer to Buy – Acquisition Window (Buyback) for Balrampur Chini Mills 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, and 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 Balrampur Chini Mills Limited (the “Company”), has announced offer to Buyback up to 84,38,327 (Eighty four lakhs thirty eight thousand three hundred twenty seven only) fully paid-up equity shares of the company of the face value of Re. 1/- each, representing 3.69% of the issued, subscribed and paid-up equity shares of the Company, from all eligible shareholders as on the Record Date, i.e., Thursday, April 18, 2019 on a proportionate basis, through the ‘’Tender Offer’’ process, at a price of Rs. 175/- (One Hundred and Seventy-Five only) per equity share, payable in cash, for an aggregate maximum amount of Rs. 147,67,07,225 (One Hundred Forty-Seven Crores Sixty Seven Lakhs Seven Thousand Two Hundred and Twenty Five only) excluding the Transaction Costs, from May 16, 2019 to May 29, 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.
Additional General Manager
Listing Sales & Ops
Date: May 10, 2019