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| Exchange Disseminated Time | Elara Capital (India) Private Limited ( Manager to the Offer) for and on behalf of Sharyans Resources Limited (“Acquirer I”), Fine Estates Private Limited (“Acquirer II”), Aditya Infotech Private limited (“Acquirer III”) and Neostar Developers LLP (“Acquirer IV”) (collectively referred to as the “Acquirers”) along with Mr. Sudhir Valia ("PAC I"), Ms. Raksha S. Valia ("PAC II"), Mr. Vijay M. Parekh ("PAC III") and Mr. Paresh M. Parekh ("PAC IV") (collectively referred to as the "PACs") has informed this Detailed Public Statement ("DPS") to the Public Shareholders of Fortune Financial Services India Ltd ( Target Company), in compliance with Regulations 3(1), 3(2), 3(3) and 4 read with Regulations 13(1), 14 and 15 and other applicable regulations 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 dated November 27, 2013 ("PA") in relation to this Open Offer filed by the Acquirer & the PACs with BSE Ltd ("BSE") on November 27, 2013, filed with Securities and Exchange Board of India ('SEBI') on November 28, 2013 and sent to the Target Company on November 27, 2013.
The Offer:
This Open Offer is being made under Regulations 3(1), 3(2), 3(3) and 4 of the SEBI (SAST) Regulations by the Acquirers and the PACs to the Public Shareholders for the acquisition of upto 73,69,958 Equity Shares representing 26% of the Voting Share Capital of the Target Company ('Offer Size'). This Open Offer is being made at a price of Rs. 75/- (Rupees Seventy Five Only) ('Offer Price') per Equity Shares and will be paid in cash in accordance with Regulation 9(1)(a) of the SEBI (SAST) Regulations.
Tentative Schedule of Activity:
Identified Date - January 02, 2014
Date of Commencement of Tendering Period - January 16, 2014
Date of Closure of Tendering Period - January 29, 2014 |
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