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 Parmeet Singh Sood (“Acquirer 1”) and Aveen Kaur Sood (“Acquirer 2”) (collectively referred to as“Acquirers”) to the Eligible Shareholder(s) of SIEL FINANCIAL SERVICES LIMITED (Formerly Known as Shriram Agro-Tech Industries Limited) (“Target Company”) to acquire upto 28,35,938 (Twenty Eight Lacs Thirty Five Thousand Nine Hundred and Thirty Eight Only) fully paid Equity Shares of face value Rs. 10/- each (“Offer Shares”) representing 25% (Twenty Five per cent) of the fully paid-up equity share capital and voting capital of the Target Company on a fully diluted basis, as of the tenth working day from the closure of the tendering period of the open offer, for cash at a price of Rs. 2.25 (Rupees Two and Twenty Five Paise only) per equity share (“Offer Price”) pursuant to Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“SEBI (SAST) Regulations”), from April 22, 2021 to May 5, 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
April 19, 2021
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