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 and 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 U. P. Hotels Limited (“Target Company”) is made by Mr. Apurv Kumar (“Acquirer 1”), Mr.Anoop Kumar (“Acquirer 2”) & Brijrama Hospitality Private Limited (“Acquirer 3”) to acquire 6,27,040 Equity Shares of face value of Rs.10.00/- each (‘equity shares’), representing 11.61% of the Equity Capital (the “Offer Shares”) from the Public Shareholders, held by the Public Shareholders at the floor price of Rs.154 /- per equity share through the reverse book-building process (“RBBP”) in respect of Delisting of Equity Shares of the Company, in accordance with the SEBI Delisting Regulations from March 21, 2022 to March 25, 2022.
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
March 17, 2022 |