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, 20201102-43 dated Nov 02, 2020 and 20210825-62 dated Aug 25,2021 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 Aksharchem (India) Ltd (“The Company”) has announced a Cash Offer to Buy-back up to 1,69,491 (One Lakh Sixty Nine Thousand Four Hundred Ninety One) fully paid-up equity shares of the Company of face value of Rs 10/- each (“Equity Share(s)”) from all the shareholders holding Equity Shares / beneficial owners of Equity Shares of the Company, as on the Record Date i.e., Friday, November 12, 2021 (“Record Date”), on a proportionate basis, through the Tender Offer Route using stock exchange mechanism (“Tender Offer”), at a price of Rs. 590/- (Rupees Five Hundred Ninety Only) per Equity Share (“Buy-back Price”) for an aggregate amount not exceeding Rs. 9,99,99,690/- (Rupees Nine Crores Ninety Nine Lakhs Ninety Nine Thousand Six Hundred Ninety only) (“Buy-back Size”) excluding costs such as fees, brokerage, securities transaction tax, goods and services tax, stamp duty etc. from December 08, 2021 to December 21, 2021.
Letter of Offer is herewith attached for perusal.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
December 01, 2021 |