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| Exchange Disseminated Time | Prime Securities Ltd ("Manager to the Offer"), for and on behalf of Krishiraj Trading Ltd ("Acquirer") alongwith Welspun Mercantile Ltd ("WML"/"PAC1") and Welspun Wintex Ltd ("WWL"/"PAC 2") as Person Acting in concert ("PAC") has informed this Detailed Public Statement ("DPS") to the Public shareholders of Welspun Investments and Commercials Ltd ("Target Company") regarding Open Offer, in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) Regulations") pursuant to the Public Announcement ("PA'') filed on September 18, 2012 with the Bombay Stock Exchange Ltd ("BSE”) and National Stock Exchange of India Ltd ("NSE") ("Stock Exchanges") and sent on September 18, 2012 to Securities and Exchange Board of India ("SEBI") and the Target Company, in terms of Regulation 3(2) of the SEBI (SAST) Regulations.
The Offer:
This Offer is for acquisition of upto 9,50,164 Equity Shares, representing 26% of the total voting share capital of the Target Company ("Offer Size"). This Offer is being made to all the Public Shareholders, in terms of Regulation 7(6) of the SEBI (SAST) Regulations.
The Offer is being made at a price of Rs. 20 per fully paid-up equity share of the Target Company ("Offer Price"), payable in cash, in accordance with provisions of Regulation 9(1)(a) of SEBI (SAST) Regulations.
Tentative Schedule of Activity pertaining to the Offer:
Identified Date - October 31, 2012
Date of Commencement of the tendering period - November 16, 2012
Date of Closure of the tendering period - November 30, 2012 |
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