|Opening of Offer to Buy – Acquisition Window (Buyback) for Indian Energy Exchange 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 Indian Energy Exchange Limited (the “Company”), has announced Cash Offer for Buyback of not exceeding 37,29,729 (Thirty Seven Lakhs Twenty Nine Thousand Seven Hundred Twenty Nine) fully paid-up equity shares of face value of Re. 1/- each, representing 1.23% of the total number of equity shares in the paid-up equity share capital of the Company as on March 31, 2018, from all the eligible shareholders / beneficial owners of equity shares of the Company as on the Record Date, i.e., Friday, February 15, 2019, on a proportionate basis, through the “Tender Offer” through Stock Exchange mechanism for Cash at a price of Rs. 185/- (Rupees One Hundred and Eighty Five Only) per equity share for an aggregate consideration not exceeding Rs. 69,00,00,000 (Rupees Sixty Nine Crores Only) from March 22, 2019 to April 04, 2019.
Market Participants are requested to note that the window for the tendering of the Physical shares will not be available for this issue. Eligible shareholders holding shares in physical form are advised to get their shares dematerialized before tendering their equity shares in the buyback (Please refer Letter of Offer for further details).
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
March 18, 2019