Orient Green Power: Updates on open offer

Mar 01, 2013, 02.15 PM IST

Shriram Industrial Holdings Pvt Ltd, Orient Green Power PTE. Ltd. and Shriram Venture made an offer to acquire up to 14,77,00,345 equity shares, representing 26% of Orient Green Power Company at a price of Rs 15.

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Shriram Industrial Holdings Pvt Ltd, Orient Green Power PTE. Ltd. and Shriram Venture made an offer to acquire up to 14,77,00,345 equity shares, representing 26% of Orient Green Power Company at a price of Rs 15.

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Orient Green Power: Updates on open offer

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Axis Capital Ltd ("Manager to the Open Offer") on behalf of Shriram Industrial Holdings Private Ltd ("SIHPL"/"Acquirer") and Orient Green Power PTE. Ltd. ("OGPTE") and Shriram Venture Ltd ("SVL"), in their capacity as persons acting in concert ("PACs") has informed this Detailed Public Statement ("DPS") to the public Shareholders of Orient Green Power Company Ltd ("Target Company") in respect of the Open Offer, in compliance with Regulations 13(4), 14 and 15(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("SEBI (SAST) Regulations"), pursuant to the public announcement in relation to this Offer dated February 22, 2013 ("PA") made in terms of Regulations 3(1), 3(2), 4, and 5(2) read with Regulations 13(2)(f) and 15(2) of the SEBI (SAST) Regulations and sent on, February 22, 2013 to the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE") and filed with the Securities and Exchange Board of India ("SEBI") on February 25, 2013 and sent to the Target Company at its registered office on February 22, 2013.The Offer:This Offer is being made by the Acquirer and the PACs to all the public shareholders of the Target Company, other than parties to the Master Framework Agreement, to acquire up to 14,77,00,345 Equity Shares, representing 26% of the Voting Share Capital, as of the 10th working day from the closure of the tendering period ("Offer Size"). This Offer is being made at a price of ` 15.00 (Rupees Fifteen Only) ("Offer Price") per Equity Share.Tentative Schedule of Activity:Identified Date - April 04, 2013Commencement of tendering period - April 22, 2013Closure of tendering period - May 07, 2013Source : BSE

Read all announcements in Orient Green

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highlights

No case to revise direct tax rates, slabs
Super rich tax: 10% surcharge on income above Rs 1 cr
Modified provisions under GAAR effective April 1, 2016
No change in standard rate of excise duty, service tax

flashes

Budget Reaction: Fitch Says Policy Implementation To Be Key Driver Of India Rating
Budget Reaction: Fitch Says Believe Policy Execution Will Be Challenging
Budget Reaction: Fitch Says Public Finances Vulnerable To Further Growth Slowdown
Budget Reaction: Fitch Says Commitment To Fisc Cons, Despite Poll, Encouraging

GAAR-Presumes tax benefit unless proved contrary
MFs covered for deductions u/s 80CCG
Excise duty increased on mobile phones of Retail Sale Price (RSP) more than Rs 2000
ED on readymade garments exempted: positive textile sector

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18:52 pm

Exice Duty on readymade garments exempted +ve for textile sector

TAX AND YOU

Student Person

Dhiraj Mathur

REACTIONS

reaction on: Business

Shinjini Kumar

Director | PwC India

reaction on: Policy

Rahul Garg

Leader Direct Tax | PwC India

reaction on: Business

Indraneel R Chaudhury

Executive Director | PwC India

reaction on: People

Dhiraj Mathur

Leader Education | PwC India

reaction on: Policy

Deepak Kapoor

Chairman | PwC India

What got Cheaper / costlier?

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