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 Mr. Bupinder Singh Chadha (“Acquirer1”) and Mr. Charnjit Singh Chadha (“Acquirer-2”)(Hereinafter collectively referred to as ‘Acquirer’) Along with Mr. Abhijit Shah (“PAC”) to the public shareholders of Indian Bright Steel Co Limited (“Target Company”) for the acquisition of 2,10,83,400 fully paid-up equity shares of Rs. 10/- each (“the Equity Shares”), representing 50.65% of the Diluted Share and Voting Capital (“the Offer Size”) at a price of Rs. 16/- (Rupees Sixteen Only) per Equity Share (“the Offer Price”) payable in Cash, pursuant to and in compliance with regulation 3(1) and 4 of the SEBI (SAST) Regulations, From March 13, 2024 To March 27, 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
March 11, 2024
|