Opening of Offer to Buy – Acquisition Window (Buyback) for Ashiana Housing Limited
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 Ashiana Housing Limited (“The Company”) has announced an Offer up to 18,27,242 (Eighteen Lakhs Twenty Seven Thousand Two Hundred And Forty Two) fully paid-up equity shares having face value of Rs.2/- each of the company at a price of Rs.301/- (Rupees Three Hundred And One Only) per equity share payable in cash for an aggregate amount of Up to RS.55 crores (Rupees Fifty Five Crores Only), excluding expenses incurred or to be incurred for the buy back, which Represents 7.23% and 7.32% of the aggregate of company's fully paid-up equity share capital and free reserves as per The latest audited standalone and consolidated financial statements as on march 31, 2023 respectively, through the Tender offer route using the stock exchange mechanism, on a proportionate basis from all the equity Shareholders/beneficial owners of the equity shares of the company as on the record date. From August 02, 2023 to August 08, 2023.
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.
Mangesh Tayde
Deputy General Manager
Listing Sales & Ops
July 31,2023 |