04/25/2024 | Press release | Distributed by Public on 04/25/2024 04:15
Notice No. | 20240425-7 | Notice Date | 25 Apr 2024 | |||
Category | Trading | Segment | Equity | |||
Subject | Opening of Offer to Buy - Acquisition Window (Buyback) for TIPS INDUSTRIES LIMITED | |||||
Attachments | Letter of offer.pdf ; | |||||
Content |
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 2020, 20201102-43 dated Nov 02, 2020 and 20210825-62 dated Aug 25,2021 has 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 TIPS INDUSTRIES LIMITED ("The Company") Offer to buyback upto 5,95,000 (Five lakhs & ninety five thousand only) fully paid-up equity shares of having face value of Rs.1.00 (Indian Rupees One Only) each from all the eligible shareholders as on the record date i.e Monday April 22, 2024 ,on a proportionate basis by way of the tender offer route as prescribed under the buyback regulations, through stock exchange mechanism at a price of Rs 625/- (Indian Rupees Six hundred & twenty five Only ) per equity share payable in cash for an Aggregate consideration not exceeding Rs 37,18,75,000/- (Rupees Thirty seven crore eighteen lakhs and seventy five thousand only) ( "buyback") from April 26, 2024 to May 03, 2024 <_o3a_p>
Letter of Offer is herewith attached for perusal.<_o3a_p>
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website - www.bseindia.com.<_o3a_p>
<_o3a_p>
Mangesh Tayde<_o3a_p>
Deputy General Manager<_o3a_p>
Listing Business Relationship <_o3a_p>
April 25, 2024<_o3a_p>