This is in continuation with Exchange notice no 20210420-9 dated April 20, 2021 for the Delisting Offer made by (i) Mr. Narender Surana, (ii) Mr. Devendra Surana, (iii) Mrs. Sunita Surana, (iv) Mrs. Namrata Surana, (v) M/s. Surana Infocom Private Limited, (vi) M/s. Surana Telecom and Power Limited and (vii) M/s. Bhagyanagar Securities Private Limited (collectively referred to as the ‘Acquirers’) to the public shareholders of Bhagyanagar Properties Limited for which the bidding period closed on April 29, 2021. Akasam Consulting Private Limited, Manager to the Issue along with Acquirers has informed the Exchange that the delisting offer is deemed to have failed in terms of Regulation 19(1) of the SEBI (Delisting of Equity Shares) Regulations.
The post offer public announcement in relation to the above has been published by the Acquirers in accordance with the Delisting Regulations ("Post Offer PA") in the newspapers on May 03, 2021.
In view of failure of the Delisting Offer of Bhagyanagar Properties Limited all shares tendered in the Delisting Offer shall be returned/ released to the respective investors/ public shareholders by Clearing Corporation (ICCL) on May 05, 2021 on best effort basis.
A copy of the letter dated May 04, 2021 from the Manager to the Issue and post offer public announcement submitted to the Exchange is attached for your information.
All Market Participants, Trading Members and Custodians are requested to take note of the same.
Listing Sales & Ops
May 04, 2021