Open Offer for WPIL shareholders

IDBI Capital Market Services Ltd ("Manager to the Offer") on behalf of M/s. Asutosh Enterprises Ltd ("Acquirer") alongwith Mr Prakash Agarwal ("Person Acting in Concert/PAC") and Hindustan Udyog Ltd acting, as "PAC", has issued this Public Announcement ("PA") to the Shareholders/Beneficial Owners of WPIL Ltd ("Target Company"), pursuant to Regulations 10, 11(1) and 12 and other provisions of Chapter III of the Securities and Exchange Board of India (Substantial Acquisitions of Shares and Takeovers) Regulations 1997 [SEBI (SAST) Regulations 1997] and subsequent amendments thereto has announced as below:

The Offer
The Acquirer is making this Open Offer to the shareholders of the Target Company to acquire 1,593,416 equity shares of Rs 10/- each (representing 20% of the voting capital of the Target Company) at a price of Rs 32.45 per share for each fully paid up equity share of the Target Company ("Offer Price") payable in cash ("Offer").

Schedule of Activities
Specified Date: August 08, 2006
Date of Opening of the Offer: August 30, 2006
Date of Closing of the Offer: September 28, 2006

Source : Equity Bulls

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