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 a Cash Offer is made by Darpan Shah (“Acquirer”) along with Devan Pandya (“PAC”) to acquire up to 1,95,000 fully paid up equity shares, having face value of Rs. 10 (Indian Rupees Ten Only) each (“Equity Shares”), representing 26% (Twenty Six Percent only) of the voting share capital of the Target Company, from the public shareholders of Nidhi Granites Limited (“Target Company”) at a price of Rs 29/- (Indian Rupees Twenty Nine Only) per equity share (“Offer Price”), payable in cash, in accordance with the provisions of Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011, as amended from time to time (“Sebi (Sast) Regulations, 2011”) from January 21, 2021 to February 04, 2021.
Letter of Offer is herewith attached 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
January 19, 2021
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