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 02 Nov 2020, 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 an Open Offer (“Offer”) is made by Mr. Sunil Kumar Malik (“Acquirer”) along with Ms. Puja Malik (“PAC 1”), Mr. Anshu Agarwal (“PAC 2”), M/s. Anshu Agarwal (“PAC 3”), Mr. Ramesh Chandra Agarwal (“PAC 4”), M/s. R C Agarwal HUF (“PAC 5”), Mrs. Usha Agarwal (“PAC 6”), Mrs. Namita Agarwal (“PAC 7”) , Mr. Akhil Bansal (“PAC 8”), Mrs. Reena Agarwal (“PAC 9”) (hereinafter collectively referred to as “PACs") to the shareholders of Akashdeep Metal Industries Limited (Hereinafter referred as “AMIL” or “the Target Company” or “TC” or “the Company”) to acquire up to 27,30,682 Equity shares of face value Rs.10/- each representing 26% of the emerging equity and voting share capital of the Target Company at a price of Rs.52.50/- (Rupees Fifty Two and Fifty Paise Only) per Share including interest @ 10% p.a. for delay in payment beyond Scheduled Payment Date. (“Offer Price”), pursuant to the Regulation 3(1), Regulation 4, read with Regulation 13(2)(g) of the SEBI (SAST) Regulations, 2011 and subsequent amendments thereof for substantial acquisition of shares / voting rights accompanied with change in control, from June 22, 2022 to July 05, 2022.
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
June 15, 2022 |