This is in continuation with Exchange notice no 20240410-11 dated April 10, 2024 and 20240419-51 dated April 19, 2024 for the Delisting Offer made by Inspirisys Solutions Limited (“Target Company”) is made by the CAC Holdings Corporation (“Promoter Acquirer”) to acquire 1,19,04,748 Equity Shares of face value of Rs.10.00/- each (‘equity shares’) held by the Public Shareholders at the floor price of Rs.71.15/- per equity share through the reverse book-building process (“RBBP”) in respect of Delisting of Equity Shares of the Company, in accordance with the SEBI Delisting Regulations from April 12, 2024 to April 19, 2024.
The Acquirer vide post offer announcement dated April 22, 2024 has confirmed that the Discovered Price of Rs.241/- per equity share is not acceptable to them. Thus, the Delisting Offer is deemed to have failed in terms of Regulation 23(1)(b) of the SEBI Delisting Regulations.
Pursuant to Regulation 23(2)(a)(ii) of the SEBI Delisting Regulations, Equity Shares offered or tendered in terms of Schedule II of the SEBI Delisting Regulations, will be released for the failure of the Delisting Offer i.e. Tuesday, April 23, 2024 on best effort basis.
A copy of the Post Offer announcement dated April 22, 2024 submitted to the Exchange is attached for your information.
All Market Participants, Trading Members and Custodians are requested to take note of the same.
Mangesh Tayde
Deputy General Manager
Listing Sales & Ops
April 23, 2024 |