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Exchange Disseminated Time | JM Financial Institutional Securities Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement ("PA") regarding Open Offer for acquisition of up to 30,813,939 equity shares of Mangalore Chemicals & Fertilizers Limited, (“MCF” / “Target Company” / “Target”) from the Public Shareholders (as defined below) of the Target Company by SCM Soilfert Ltd (“Acquirer” / “SCM”) together with Deepak Fertilisers And Petrochemicals Corporation Ltd (“PAC” / “DFPCL”) with the Acquirer (“Offer” / “Open Offer”).
Offer Details:
Size: The Acquirer and the PAC hereby make this open offer (“Open Offer” / “Offer”) to the Public Shareholders of the Target Company to acquire up to 30,813,939 fully paid up equity shares of face value of Rs. 10/- (Rupees ten only) each of the Target Company (“Offer Shares”), constituting 26.0% of the voting share capital of the Target Company (“Voting Share Capital”), subject to the terms and conditions mentioned in this Public Announcement, the detailed public statement (“DPS”) and the letter of offer (“LoF”) that are proposed to be issued in accordance with the SEBI (SAST) Regulations.
Price / Consideration: The offer price of Rs. 61.75/- (Rupees Sixty One and Seventy Five Paise only) per Offer Share is calculated in accordance with Regulation 8(2) of the SEBI (SAST) Regulations (“Offer Price”), aggregating to a consideration of up to Rs. 1,90,27,60,733.25/- (Rupees One Hundred and Ninety Crore Twenty Seven Lakh Sixty Thousand Seven Hundred and Thirty Three and Twenty Five Paise Only) assuming full acceptance (“Offer Size”). |
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