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 Takeover, 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, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020has 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 Open Offer is made by Flowtech Industrial Projects Private Limited (Acquirer 1), Flowtech Chemicals Private Limited (Acquirer 2), Mr. Sukhbir Singh Dahiya (Acquirer 3), Mr. Jagbir Singh Ahlawat (Acquirer 4), Mr. Jatin Dahiya (Acquirer 5), Mrs. Parerna Ahlawat (Acquirer 6), (collectively referred to as “Acquirers”) along with person acting in concert, Mrs. Dayawati Dahiya (PAC 1), Mr. Mayank Ahlawat (PAC 2), Ms. Garima (PAC 3), Himalaya Alkalies & Chemicals Limited (PAC 4), Advance Chemicals (PAC 5), Tara Mercantile Private Limited (PAC 6) (collectively referred to as “PACs”), to acquire upto upto 7,056,607 fully paid up equity shares of face value Rs. 10/- each representing 26.00% of the total issued Share capital and 26.03% of voting capital of Punjab Alkalies and Chemicals Limited (“Target Company”) from the Eligible Shareholders (i.e. Other Public Shareholders and Existing Promoter) of the Target Company at a price of Rs. 39.10 (Rupees Thirty Nine and Paise Ten only) per fully paid up equity share of Rs. 10/- each (“Offer Price”) payable in cash, pursuant to Regulation 3(1) and 4 read with Regulation 13(2)(a) and other applicable regulations of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended from time to time (“SEBI SAST Regulations”), from September 17,2020 to September, 30,2020.
Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Bhushan Mokashi
Additional General Manager
Listing Sales & Ops
September 14, 2020 |