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Open Offer for Indian Bright Steel Company at Rs.5

Posted On: 2011-01-19 07:20:31

Aryaman Financial Services Ltd ("Manager to the Offer") on behalf of Vitesse Telecom Pvt Ltd ("Acquirer") has issued this Public Announcement ("PA") to the shareholders of Indian Bright Steel Company Ltd ("Target Company"), pursuant to Regulation 10 and 12 and other provisions of Chapter III and in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Acquirer hereby make this Offer to shareholders of the Target Company (other than the parties to the SPA) to acquire up to 1,29,000 equity shares ("Shares") of the Target Company of face value of Rs. 10/- each, representing in aggregate 20% of the paid up equity share capital and voting capital of the Target Company at a price of Rs. 5/- (Rupees Five Only) per fully paid up equity share ("Offer Price") payable in cash subject to the terms and conditions mentioned in this PA and in the Letter of Offer in accordance with the SEBI (SAST) Regulations ("Letter of Offer").

The Specified Date for open offer is February 04, 2011. The Date of Opening of the Offer is March 09, 2011 and the Date of Closing of the Offer is March 28, 2011.


Source: Equity Bulls

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