Vishal Malleables Updates on Open Offer

BOB Capital Markets Ltd ("Manager to the Offer"), on behalf of Mr. O P Khetan & Person Acting in Concert ("Acquirers") has issued this Corrigendum to the Public Announcement to the equity shareholders of Vishal Malleables Ltd ("Target Company"), which is in continuation of & should be read in conjunction with the Original Public Announcement ("PA") dated November 14, 2006 and subsequent corrigendum dated November 16, 2006, in compliance with Regulation 10 of Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto. The equity shareholders of the Target Company are requested to note the following:

1. Offer Price:

In accordance with the regulations 20(4) and 20(5) of the regulations, the Offer Price is arrived at Rs 41.85 per share including interest amounting to Rs 9.10 per share.

2. Financial Arrangements:

The maximum purchase consideration payable by Acquirers in case of full acceptance of offer i.e. 390000 fully equity shares is Rs 10/- at a price of Rs 41.85/- per equity share aggregating to Rs 1,63,21,500/- (the "Offer Price") payable in cash subject to the terms and conditions mentioned in PA.

3. The Revised Schedule of activity is as follows:

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Activity				Original Schedule		Revised Schedule
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Specified Date				December 04, 2006		December 04, 2006
Date of Opening of the Offer		January 03, 2007		March 30, 2007
Date of Closing of the Offer		January 22, 2007		April 18, 2007
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Source : Equity Bulls

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