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 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. 20190424-35 dated April 24, 2019, 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 has been made by Reliance New Energy Solar Limited (hereinafter referred to as “Acquirer”) along with Reliance Industries Limited (hereinafter referred to as “PAC 1”) and Reliance Ventures Limited (hereinafter referred to as “PAC 2”) (hereinafter PAC 1 and PAC 2 are collectively referred to as the “PACs”) to acquire up to 4,91,37,420 fully paid-up equity shares of Face Value of Re 1 (Rupee One Only) each at a price of RS. 375.00 per equity share, representing the entire public shareholding constituting 25.90% of the emerging voting capital (as defined in Letter of Offer) of the target company, in accordance with the Securities and Exchange Board of India (Substantial Acquisition of shares and Takeovers) Regulations, 2011, as amended (“SEBI (SAST) Regulations”) from the public shareholders of Sterling and Wilson Renewable Energy Limited (hereinafter referred to as “Target Company”) from December 31, 2021 to January 13, 2022.
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
December 30, 2021 |