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 ORBIT EXPORTS LIMITED (“The Company”) Offer to buyback upto 6,00,000 (Six lakhs only ) fully paid-up equity shares of having face value of Rs.10 (Indian Rupees Ten Only) each of the Company (“Equity Shares”), representing 2.22% of the total number of equity shares in the paid-up equity capital of the company, from all the eligible shareholders (as defined below) of the company as on the record date i.e Tuesday , February 13, 2024 , on a proportionate basis by way of the tender offer route as prescribed under the buyback regulations, through stock exchange mechanism at a price of Rs 250/ (Indian Rupees Two Hundred & Fifty Only ) per equity share payable in cash for an Aggregate consideration not exceeding Rs 15,00,00,000 (Indian Rupees Fifteen Crores only) ( “buyback”) from February 20 2024 to February 26, 2024.
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 Business Relationship
February 15, 2024 |