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 Yatin Gupte (“Acquirer 1”), Sojan V Avirachan (“Acquirer 2”), Mr. R.Venkataramana (“Acquirer 3”), Garuda Mart India Private Limited (“Acquirer 4”), Wardwizard Solutions India Private Limited (“Acquirer 5”), hereinafter collectively referred to as “The Acquirers”) to the existing shareholders of Mangalam Industrial Finance Limited ( “MIFL” or the “Target Company”) to acquire up to 25,00,27,310 (Twenty-Five Crore Twenty-Seven Thousand Three Hundred and Ten Only) fully paid-up equity Shares of Re. 1/- each representing 26.00% of total equity and voting share capital of the Target Company, at a price of Rs 0.50/- (Fifty Paisa Only) per equity share (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 May 31, 2021 to June 11, 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
May 24, 2021 |