Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessAnnouncements

Shree Renuka Sugars: Updates on open offer

Wilmar Sugar Holdings Pte and SRS Investments Pte made an open offer for the acquisition of up to a maximum of 243,161,683 shares of Shree Renuka Sugars. The offer price is of Rs 21.89 will be paid in cash.

February 28, 2014 / 01:13 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Standard Chartered Bank ("Manager to the Open Offer"), for and on behalf of Wilmar Sugar Holdings Pte Ltd ("Acquirer 1") and SRS Investments Pte Ltd ("Acquirer 2", Acquirer 1 and Acquirer 2 collectively referred to as the "Acquirers") together with Wilmar International Limited ("PAC 1") and current promoter group of Target Company ("PAC 2") as the persons acting in concert (collectively, "PACs") has informed this Detailed Public Statement ("DPS") to the Public Shareholders of Shree Renuka Sugars Ltd ("Target Company"), in compliance with Regulations 3(1), 3(2) and 4, read with Regulations 13(4), 14, 15(2) and other applicable regulations of the SEBI (SAST) Regulations, pursuant to the Public Announcement in relation to this Offer (the “PA”) filed with the BSE Limited (the “BSE”) and the National Stock Exchange of India Limited (the “NSE”) (BSE and NSE are collectively referred to as “Stock Exchanges”) and sent to the Target Company at its registered office, on February 20, 2014. The PA was filed with the Securities and Exchange Board of India (“SEBI”) on February 21, 2014.The Offer:This Offer is being made by Acquirer 1, Acquirer 2, PAC 1 and PAC 2 to all the Public Shareholders of the Target Company, for the acquisition of up to a maximum of 243,161,683 (Two hundred and forty three million one hundred and sixty one thousand six hundred and eighty three) Shares, representing 26% (twenty six per cent) of the Emerging Voting Share Capital, (the “Offer Size”).The offer price of Rs 21.89 (Rupees Twenty one and eighty nine paise) per Share (the “Offer Price”) will be paid in cash in accordance with Regulation 9(1)(a) of the SEBI (SAST) Regulations.Tentative Schedule of Activity:Identified Date - April 02, 2014Date of commencement of tendering period (Offer Opening Date) - April 21, 2014Date of expiry of tendering period (Offer Closing Date) - May 05, 2014Source : BSE

Read all announcements in Shree Renuka

first published: Feb 28, 2014 01:13 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347