| Opening of Offer to Buy – Acquisition Window (Buyback) Kanchi Karpooram Limited |
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 2020has 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 Kanchi Karpooram Limited (“the Company”) has announced Cash offer to Buyback up to maximum of 2,20,000 (Two Lacs Twenty Thousand only) fully paid-up Equity Shares of face value Rs. 10/- each, at a price of Rs. 405/- (Rupees Four Hundred Five only) per share for an aggregate maximum amount of upto Rs 8,91,00,000 (Rupees Eight Crores Ninety One Lacs only) which represents 9.79% of the fully paidup Equity Share capital and free reserves as per the latest available standalone audited financial statements of the Company for the financial year ended March 31, 2020 through the Tender Offer process. The Equity Shares proposed to be bought back constitute 5.17% of the total paid up equity share capital of the Company as per the latest available standalone audited financial statements of the Company for the financial year ended March 31, 2020. The Letter of Offer will be sent to the Equity Shareholder(s) / Beneficial Owner(s) of Equity Shares of the Company as on the Record Date i.e. Friday, December 4, 2020, issue period from December 31, 2020 to January 13, 2021.
Letter of Offer is herewith attached for 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.
Atul Dhotre
Senior Manager
Listing Sales & Ops
December 23, 2020
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