Open Offer for Bhagyashree Leasing at Rs.19.25

Collins Stewart Inga Pvt Ltd ("Manager to the Offer") for and on behalf of Mr. Vimalkumar K Jain, Mr. Inderkumar K Jain, Mr. Kewalkumar K Jain, Mr. Manish V Jain & Mr. Rajas V Jain ("Acquirers") has issued this Public Announcement ("PA") to the shareholders of Bhagyashree Leasing & Finance Ltd ("Target Company"), pursuant to regulation 10 & 12, in compliance with the Securities and 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 remaining shareholders (other than Acquirers & Sellers) of Target Company to acquire upto 700,020 fully paid up equity shares of Rs 10/- each representing 20% of the existing outstanding equity share capital of the Target Company at a price of Rs 19.25/- per fully paid up equity share ("Offer Price"), payable in cash, in terms of regulation 20 of the Regulations (the "Offer" or "Open Offer").

Schedule of Activities

Specified Date: July 20, 2007

Date of Opening of the Offer: August 27, 2007

Date of Closing of the Offer: September 15, 2007

Source : Equity Bulls

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