|Opening of Offer to Buy – Acquisition Window (Buyback) for Tech Mahindra 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. 20190118-43 dated January 18, 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 Tech Mahindra Limited (the “Company”), has announced Cash offer to Buyback up to 2,05,85,000 (Two Crores Five Lakhs and Eighty Five Thousand) fully paid-up equity shares of face value Re. 5/- each, representing approximately 2.09% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the Company as at February 21, 2019, i.e., the date of the board meeting from the shareholders/ beneficial owners of equity shares of the Company as on the Record Date i.e., March 6, 2019 on proportionate basis, through the “Tender Offer” route at a price of Rs. 950/- (Rupees Nine Hundred and Fifty Only) per equity share for an aggregate amount not exceeding Rs 19,55,57,50,000/- (Rupees One Thousand Nine Hundred Fifty Five Crores Fifty Seven Lakhs and Fifty Thousand Only) from March 25, 2019 to April 5, 2019.
Market Participants are requested to note that the window for the tendering of the Physical shares will be till March 29, 2019. However, acceptance of such physical shares will be subject to the conditions specified in refer paragraph no. 20.20 of Letter of Offer. Eligible shareholders holding shares in physical form are advised to get their shares dematerialized before tendering their equity shares in the buyback (Please refer paragraph no. 20.20 of 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 20, 2019