Bajaj Hindusthan – Open Offer to the shareholders of Bajaj Hindusthan Sugar & Industries
Anand Rathi Securities Ltd ("Manager to the Offer") on behalf of Bajaj Hindusthan Ltd ("Acquirer") has issued this Public Announcement ("PA") to the shareholders of Bajaj Hindusthan Sugar & Industries Ltd (Formerly known as "The Pratappur Sugar & Industries Ltd")("Target Company"), pursuant to Regulation 11(1) read with 14(2) of, and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("SEBI (SAST) Regulations").
The Offer
The Acquirer intends to make an Open Offer to the Shareholders of Target Company to acquire 2,36,00,000 equity shares of Re 1/- each representing 20% of the total (Post exercise of all equity warrants) expanded share / voting capital of Target Company at a price of Rs 50/- per fully paid up equity share ("Offer Price"), payable in cash subject to the terms and conditions mentioned in the PA.
Schedule of Activities:
Specified Date – December 28, 2007
Date of Opening of the Offer – February 07, 2008
Date of Closing of the Offer – February 29, 2008
Source:
