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 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 Bajrang Finance Limited (the “Company”) is made by the members of promoter group of the Company, Remi Securities Limited (“Promoter Acquirer 1”), K K Fincorp Limited ("Promoter Acquirer 2"),, Remi Finance and Investment Private Limited ("Promoter Acquirer 3"), Rajendra Finance Private Limited ("Promoter Acquirer 4"), Remi Sales and Engineering Private Limited ("Promoter Acquirer 5") ) (referred to as the “Promoter Acquirers”), to acquire 9,40,530 Equity Shares (“Offer Shares”) representing 52.25% of the paid-up equity share capital from the public shareholders of the Company (“Public Shareholders”) at the floor price of Rs. 13.18 per Equity Share of face value of Rs. 10 each, pursuant to Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (the “Delisting Regulations”) from May 24, 2021 to May 31, 2021.
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.
Atul Dhotre
Senior Manager
Listing Sales & Ops
May 20, 2021 |