Open Offer for Electra Financial Services at Rs.6.45

Aryaman Financial Services Ltd ("Manager to the Offer") on behalf of Mr. Keshrimal Jain, Mr. Mukesh Jain, Mr. Navin Jain & Mr. Sunil Jain ("Acquirers") & M/s. Anurag Agencies, M/s. Avani Proteins, M/s. Bollywood Collection, M/s. Bollywood Health Center, M/s. CSM Developers Pvt Ltd, M/s. Mukesh Protins, M/s. Navkar Finvest Ltd., M/s. Shreedhi Developers Pvt Ltd, M/s. Shree Vrajraj Developers Pvt Ltd and M/s. Volatile Securities Pvt Ltd ("Person acting Concerts" / "PACs") has issued this Public Announcement to the shareholders of Electra Financial Services Ltd ("Target Company"), pursuant to Regulation 10 & 12 and other provisions of Chapter III and in compliance with the Securities & Exchange Board of India (Substantial Acquisition of Shares & takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer

The Acquirers & the PACs are making the offer to the shareholders of the Target Company to acquire by tender upto 6,00,080 fully paid equity shares of Rs 10/- each of Target Company, representing 20% of the paid up and voting equity share capital in terms of regulation 21(1) of the Regulations on the terms and subject to conditions, at a price of Rs 6.45 per fully paid up equity share (the "Offer Price") payable in cash in terms of Regulation 20 of the Regulations (the "Offer")

Schedule of Activities

Specified Date: May 14, 2007
Date of Opening of the Offer: June 06, 2007
Date of Closing of the Offer: June 25, 2007

Source : Equity Bulls

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