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 De-listing, 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, 20190207-23 dated 07 Feb 2019 and 20200528-32 dated 28 May 2020 and 20201102-43 dated 02 Nov 2020 and 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 an Offer for Voluntary Delisting of Equity Shares to the Public Shareholders of SPS FINQUEST LIMITED (“Target Company”) is made by the SANDEEP SHAH (“Acquirer 1”), and SANRINA CONSULTANCY PRIVATE LIMITED ("Acquirer 2"), to acquire 41,62,092 Equity Shares of face value of Rs.10.00/- each (‘equity shares’) held by the Public Shareholders at the floor price of Rs. 61.87 /- (Indian Rupees Sixty-One and Eighty-Seven Paise only) per equity share aggregating up to Rs.25.75 Crs through the reverse book-building process (“RBBP”) in respect of Delisting of Equity Shares of the Company, in accordance with the SEBI Delisting Regulations from Monday, August 19, 2024, to Friday, August 23, 2024.
Letter of Offer is attached for your perusal.
Market participants are further requested to note that the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Mangesh Tayde
Deputy General Manager
Listing Business Relationship
August 13, 2024
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