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 2020has 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 Larsen & Toubro Limited (“the Company”) has announced offer to buy back of up to 3,12,50,000 (Three Crore Twelve Lakh Fifty Thousand) fully paid-up equity shares of face value of Rs.2 (Rupees Two Only) each of the Company (“equity shares”), representing 2.22% of the total number of equity shares in the paid-up equity share capital of the Company from the equity shareholders / beneficial owners of equity shares as on September 12, 2023 (“Record Date”), on a proportionate basis by way of a tender offer route through stock exchange mechanism at a price of Rs.3,200 (Rupees Three Thousand Two Hundred Only) per equity share payable in cash for an aggregate consideration of up to Rs.10,000 crore (Rupees Ten Thousand Crore Only) (“Buyback”), from September 18, 2023 to September 25, 2023 (Excluding September 19,2023 being trading holiday).
Letter of Offer is herewith attached for perusal.
BSE will be Designated Stock Exchange for the said issue.
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
September 14, 2023 |