| Opening of Offer to Buy – Acquisition Window (Takeover) for IDBI Bank 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 Open Offer (“Offer”) by Life Insurance Corporation of India (hereinafter referred to as “Acquirer”) to acquire fully paid-up equity shares of face value of Rs. 10/- each (“Equity Shares”) numbering 2,04,15,12,929 and representing 26% of the fully diluted voting share capital of IDBI Bank Limited (“Target Company”), from the equity shareholders (as defined below) of the Company at a price Of Rs. 61.73/- (“Offer Price”) per equity share payable in cash pursuant to the provisions of The Securities and Exchange Board of India (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”) from December 26, 2018 to January 08, 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.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
December 20, 2018 |