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 2020 and 20201102-43 dated 02 Nov 2020 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 Open Offer is made by Mr. Sureshbabu Malge (“ Acquirer”) to acquire up to 7,80,052 (Seven Lakh Eighty Thousand and Fifty Two) fully paid up equity Shares of Rs.10/- each representing 26.00% of total equity and voting share capital of the Amarnath Securities Limited “ASL” or the “Target Company, at a price of Rs. 18.13/- (Rupees Eighteen and Thirteen Paisa Only) per equity share including interest @ 10% per annum per Equity Share for the delay in the payment beyond the Scheduled Payment Date (the “Offer Price”) payable in cash (“Offer” or “Open Offer”), pursuant to regulation 3(1) & (4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”) for substantial acquisition of shares/ voting rights accompanied with change in control and management of the Target Company, from November 18, 2020 to December 02, 2020.
Herewith attached is Letter of Offer for your perusal.
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.
Atul Dhotre
Senior Manager
Listing Sales & Ops
November 11, 2020
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