| Opening of Offer to Buy – Acquisition Window (Buyback) for Shervani Industrial Syndicate 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. 20190424-35 dated April 24, 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 Shervani Industrial Syndicate Limited (the “Company”), has announced offer for Buyback of up to 4,15,000 (Four Lakhs Fifteen Thousand Only) fully paid-up equity shares of face value Rs 10/- (Rupees Ten Only) each, representing 13.32% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the Company as on March 31, 2018, from all the shareholders of the Company as on Friday, March 29, 2019 (‘’Record Date’’), on a proportionate basis, through the (“Tender offer’’) route at a buyback price of Rs. 500/- (Rupees Five Hundred Only) per equity share payable in cash for an an aggregate consideration not exceeding Rs. 20,75,00,000/- (Rupees Twenty Crores Seventy-Five Lakhs Only) from May 09, 2019 to May 22, 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 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
May 06, 2019
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