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 is made by Accord Distillers & Brewers Private Limited (‘Acquirer 1’) Teyro Labs Private Limited (‘Acquirer 2’) Jam Hotels and Resorts Private Limited (‘Acquirer 3’) Mr. Sundeep Anand Jegath Rakshagan (‘Acquirer 4’) (Hereinafter collectively referred to as ‘Acquirers’) to the public shareholders of COROMANDEL ENGINEERING COMPANY LIMITED (“TARGET COMPANY”) at a price of Rs. 13.50/- (Rupees Thirteen and Paisa Fifty only) per equity share (“offer price”), payable in cash, to acquire up to 84,68,244 (Eighty Four Lakhs Sixty Eight Thousand Two hundred and Forty Four) equity shares of face value of Rs. 10/- each (“offer shares”), representing 25.48% (Twenty five point four eight percentage) of the voting share capital pursuant to Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011 from January 16, 2024 To January 30, 2024.
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 Business Relationship
January 12, 2024 |