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| Exchange Disseminated Time | SPA Capital Advisor Ltd has informed BSE about the following regarding Open Offer under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (the "SEBI Regulations") by Dalmia Bharat EnterprIses Limited (the "Acquirer") to the equity shareholders of Dalmia Bharat Sugar and Industries Limited (the "Target Company").
Dalmia Bharat Enterprises Limited, one of the entity constituting the Promoter Group of the Target Company, has so far in the financial year 2012-13, acquired 3,959,753 equity shares of the Target Company aggregating to 4.89% of the paid up share capital of the Target Company. The Acquirer in its Board Meeting held on September 05, 2012, has decided to increase their shareholding in Dalmia Bharat Sugar and Industries Limited with an intention to purchase an additional 5,500,000 equity shares of face value Rs. 2 each of the Target Company through open market (i.e. National Stock Exchange of India Limited and / or BSE limited) at a price not exceeding Rs. 19.50 per equity share which will trigger the requirement of an Open Offer under SEBI Regulations.
SPA Capital Advisor Ltd have been appointed as "Manager to the Offer" by Dalmia Bharat Enterprises Limited for the proposed Open Offer to be given to the equity shareholders of the Target Company. |
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