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 Vijaykumar Khemani (Hereinafter referred to as ‘Acquirer 1’) BSAS Infotech Limited (Hereinafter referred to as ‘PAC 1’) ONYX Partners (Hereinafter referred to as ‘PAC 2’) Vijaykumar Mangturam Khemani HUF (Hereinafter referred to as ‘PAC 3’) Gryffin Advisory Services Private Limited (Hereinafter referred to as ‘PAC 4’) PAC 1, PAC 2, PAC 3 and PAS 4 are collectively referred to as “PACs” to the public shareholders of Khemani Distributors & Marketing Limited (“TARGET COMPANY”) at a price of Rs 155.67/- (Rupees One Hundred fifty five & sixty seven paise Only) per equity share (“offer price”), payable in cash, to acquire up to 56,91,200/- (Fifty six lakhs ninety one thousand & two hundred only ) equity shares of face value of Rs. 5/- each (“offer shares”), representing 24.77% (Twenty four & seventy seven percentage) of the voting share capital pursuant to the provisions of Regulations 3 (1) and 4 of the SEBI (SAST) Regulations, for substantial acquisition of Equity Shares and Voting Share Capital accompanied with change in control and management of the Target Company From February 12, 2024 To February 26, 2024 (Excluding February 19, 2024 due to SEBI Holiday)
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.
Note: Since the Equity Shares of the Target Company are listed on SME platform of BSE, the same will be accepted under the Offer in the minimum lot of 1,200 Equity Shares.
Mangesh Tayde
Deputy General Manager
Listing Business Relationship
February 09, 2024
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