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 and 20201102-43 dated 02 Nov 2020 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 Mr. Rajnish Kumar Singh (‘Acquirer’) to the existing public shareholders of Sheetal Diamonds Limited (“Target Company”) to acquire up to 58,50,000 (Fifty-Eight Lakhs Fifty Thousand) Equity Shares of the face value of Rs.5 each, representing 26.00% (Twenty-Six Percent) of the Expanded Voting Share Capital of Sheetal Diamonds Limited at an offer price of Rs. 9.00/- (Nine Rupees Only) per Equity Share, payable in cash to the Public Shareholders of the Target Company, pursuant to and in compliance with the provisions of SEBI (SAST) Regulations, From August 31, 2023 to September 13, 2023.
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.
Mangesh Tayde
Deputy General Manager
Listing Sales & Ops
August 29, 2023 |