Open Offer for SSI Ltd at Rs.208

JM Morgan Stanley Pvt Ltd ("Manager to the Offer") on behalf of PVP Enterprises Pvt Ltd ("Acquirer") & PVP Ventures Pvt Ltd, Platex Ltd & Prasad V Potluri, being person acting in concert with Acquirers ("PACs") has issued this Public Announcement ("PA") to the shareholders of SSI Ltd ("Target Company") pursuant to Regulation 10 and 12 of, and in compliance with, Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto [the "SEBI (SAST)" Regulations"].

The Offer

The Acquirer is making an offer along with PAC to the public shareholders of the Target Company to acquire up to 1,15,76,764 equity shares being 20% of the Voting Capital of the Target Company ("Offer Share(s)") as on May 24, 2007, being the date which is 15 days from the date of closure of the Offer as required under Regulation 21(5) of the SEBI (SAST) Regulations. This Offer is being made pursuant to Regulation 10 and 12 of the SEBI (SAST)" Regulations, at a price of Rs 208 per fully paid up equity shares (the "Offer Price") payable in cash in accordance with the SEBI (SAST)" Regulations and subject to terms & conditions mention in ("Offer" or "Open Offer").

Schedule of Activities

Specified Date: March 09, 2007

Date of Opening of the Offer: April 20, 2007

Date of Closing of the Offer: May 09, 2007

Source : Equity Bulls

Keywords