Indian Info - Open Offer

Posted By: Religare
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Microsec Capital Ltd ("Manager to the Offer"), on behalf of Jayanti Prime Software Advisory Pvt Ltd ("Acquirer") has informed this Public Announcement ("PA") to the Equity Shareholders of Indian Infotech & Software Ltd ("Target Company"), pursuant to Regulations 10 and 12 & other provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto.("Regulations"/ SAST Regulations").

The Offer:

The Acquirer is making a mandatory Offer ("the Offer" or "Open Offer") to the public Shareholders of the Target Company to acquire 865,661 fully paid up equity shares of Rs. 10/- each constituting 20% of the total voting capital of the Target Company at a price of Rs. 18.50 (Rupees Eighteen & Paise Fifty Only) ("Offer Price") per Equity Share aggregating to Rs. 1,60,14,729 (Rupees One Crore Sixty Lacs Fourteen Thousand Seven Hundred Twenty Nine Only) ("Offer Size") payable in cash subject to the terms & conditions mentioned in PA & Letter of Offer in relations to the Offer ("Letter of Offer").

Schedule of Activities:

Specified Date - June 17, 2011

Date of Opening of the Offer - July 15, 2011

Date of Closing of the Offer - August 03, 2011

Read more about: indian infotech
Story first published: Thursday, May 26, 2011, 23:32 [IST]
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