Open Offer for KB Steel at Rs.28

Ashika Capital Ltd ("Manager to the Offer") for and on behalf of Mr. Vipul J Modi, Ms. Leena V Modi & Vipul J Modi (HUF) ("Acquirers") has issued this Public Announcement ("PA") to the shareholders of KB Steel Ltd ("Target Company"), pursuant to and in compliance with among others, Regulation 10 & 12 of Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer

The Acquirers are making an Open Offer to the shareholders (other than parties to the Agreement) of the Target Company to acquire upto 49,000 fully paid up equity shares of Rs 10/- each, representing 20% of the voting capital, at a price of Rs 28/- per fully paid-up equity share ("Offer Price") payable in cash ("Offer" or "Open Offer").

Schedule of Activities

Specified Date: June 30, 2007

Date of Opening of the Offer: August 08, 2007

Date of Closing of the Offer: August 27, 2007

Source : Equity Bulls

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