BSE Ltd.

04/15/2024 | Press release | Distributed by Public on 04/15/2024 06:34

Opening of Offer to Buy – Acquisition Window (Takeover) of INDIA RADIATORS LIMITED

NOTICES
Notice No. 20240415-11 Notice Date 15 Apr 2024
Category Trading Segment Equity
Subject Opening of Offer to Buy - Acquisition Window (Takeover) of INDIA RADIATORS 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 02 Nov 2020, 20210825-62 dated Aug 25,2021 hasissued 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 an open offer is made by MERCANTILE VENTURES LIMITED(Hereinafter referred to as 'Acquirer') to the public shareholders of INDIA RADIATORS LIMITED ("TARGET COMPANY") at a price of Rs 6/- (Six rupees Only) per equity share ("offer price"), payable in cash, to acquire up to 2,34,000 (Two Lakh Thirty Four Thousand only) equity shares of face value of Rs. 10/- (Rupees Ten Only) each, representing 26% (Twenty-Six percentage) of the voting share capitalpursuant to the provisions of Regulations 3(2) and 4 and other applicable regulations of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. ("SEBI (SAST) Regulations"). From Friday, 19thApril, 2024 to Friday, 3rdMay, 2024.<_o3a_p>

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Letter of Offer is herewith attached for your perusal.<_o3a_p>

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.<_o3a_p>

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Mangesh Tayde<_o3a_p>

Deputy General Manager<_o3a_p>

Listing Business Relationship<_o3a_p>

April 15, 2024<_o3a_p>