| Opening of Offer to Buy – Acquisition Window (Buyback) for Bharat Heavy Electricals 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 Bharat Heavy Electricals Limited (“The Company”) has announced cash offer for Buyback of 18,93,36,645 (Eighteen Crores, Ninety Three Lakhs, Thirty Six Thousand, Six Hundred And Forty Five Only) fully paid-up equity shares of face value of Rs. 2/- each, representing 5.16% of the total issued and 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. Tuesday, November 06, 2018, on a proportionate basis, through the “tender offer” process at a price of Rs. 86/- (Rupees Eighty Six Only) per equity share for an aggregate consideration of Rs. 1628,29,51,470/- (Rupees One Thousand Six Hundred And Twenty Eight Crore, Twenty Nine Lakh, Fifty One Thousand, Four Hundred And Seventy Only) from December 13, 2018 to December 27, 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.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
December 04, 2018 |