Welspun Syntex: Updates on open offer

Mon, Dec 17, 2012 at 14:21

Krishiraj Trading along with Welspun Mercantile are making open offer for acquisition of upto 1,02,02,288 equity shares, representing 26% of the Post Conversion Equity Share Capital of Welspun Syntex. The Offer is being made at a price of Rs 13 per fully paid-up equity share of the Target Company, payable in cash.

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Welspun Syntex: Updates on open offer

Krishiraj Trading along with Welspun Mercantile are making open offer for acquisition of upto 1,02,02,288 equity shares, representing 26% of the Post Conversion Equity Share Capital of Welspun Syntex. The Offer is being made at a price of Rs 13 per fully paid-up equity share of the Target Company, payable in cash.

Like this story, share it with millions of investors on M3

Welspun Syntex: Updates on open offer

Krishiraj Trading along with Welspun Mercantile are making open offer for acquisition of upto 1,02,02,288 equity shares, representing 26% of the Post Conversion Equity Share Capital of Welspun Syntex. The Offer is being made at a price of Rs 13 per fully paid-up equity share of the Target Company, payable in cash.

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Prime Securities Ltd ("Manager to the Open Offer") on behalf of Krishiraj Trading Ltd ("Acquirer") along with Welspun Mercantile Ltd ("Person Acting in Concert" or "PAC"), has informed this Detailed Public Statement ("DPS") for the attention of the Equity Shareholders of Welspun Syntex Ltd ("Target Company"), in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments there to ("SEBI (SAST) Regulations") pursuant to the Public Announcement ("PA") filed on December 07, 2012, in terms of Regulation 3(2) of the SEBI (SAST) Regulations.The Acquirer and the PACs are making this Offer acquisition of upto 1,02,02,288 Equity Shares, representing 26% of the Post Conversion Equity Share Capital of the Target Company ("Offer Size"). This Offer is being made to all the Public Shareholders, in terms of Regulation 7(6) of the SEBI (SAST) Regulations. The Offer is being made at a price of Rs. 13.00 per fully paid-up equity share of the Target Company ("Offer Price"), payable in cash, in accordance with provisions of Regulation 9(1)(a) of SEBI (SAST) Regulations.Tentative Schedule of The Activity : Identified Date - January 16, 2013Date of commencement of the tendering period - January 31, 2013Date of closure of the tendering period - February 13, 2013* The Identified Date is the date falling on the 10th working day prior to the commencement of the tendering period, for the purpose of determining the shareholders to whom the Letter of Offer shall be sent.Source : BSE

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