|Opening of Offer to Buy – Acquisition Window (Buyback) for NLC India 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, 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 NLC India Limited (the “Company”), has announced cash offer for Buyback of not exceeding 14,19,31,818 (Fourteen Crore Nineteen Lakh Thirty One Thousand Eight Hundred Eighteen) fully paid-up Equity Shares of face value Rs 10/- each, representing 9.29% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the Company, from all the existing shareholders/ beneficial owners of equity shares of the Company as on the record date i.e. Wednesday, October 24, 2018 on a proportionate basis, through the “Tender Offer” process at a price of Rs. 88/- (Rupees Eighty Eight Only) per equity share for an aggregate consideration not exceeding Rs. 1248,99,99,984/- (Rupees One Thousand Two Hundred Forty Eight Crore Ninety Nine Lakh Ninety Nine Thousand Nine Hundred Eighty Four Only) from November 13, 2018 to November 28, 2018.
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
November 09, 2018