Devaki Hospital - Open Offer at Rs.19 per share

Indbank Merchant Banking Services Ltd ("Manager to the Offer"), on behalf of Mr. A N Radhakrishnan ("the Acquirer") and Mrs. R Gomathi and Mrs. D Meenakshi Ammal ("Person Acting in Concert" - PACs) has issued this Public Announcement ("PA"), to the equity shareholders of Devaki Hospital Ltd ("Target Company"), pursuant to and in compliance with, among others, Regulation 10 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, as amended from time to time (the"Regulations") issued by the Securities and Exchange Board of India ("SEBI") has announced as below:

The Offer:

The Acquirer proposes to acquire up to 4,94,000 fully paid up equity shares ("Shares") of the Target Company (the "Offer Size") representing 20% of the voting equity capital of the Target Company at a price of Rs 19.00/- for each Share of the Target Company (Such price, the "Offer Price"), to be paid in cash in accordance with the Regulations.

Schedule of Activities

Specified Date: September 29, 2006

Date of Opening of the Offer: November 03, 2006

Date of Closing of the Offer: November 22, 2006

Source : Equity Bulls

Keywords