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SEBI takeover Code-Open Offers
(Warehouse of Takeover Offers)
Preface
This book has been prepared for those all entrepreneurs who are interested in takeovers or are likely to be takeover targets.
This book contains a comprehensive database of the open offer made by the national as well international entrepreneur. An effort has been made through this book to analyze & examine the open offer made by the various entrepreneurs. It provides a synopsis of open offer for quick reference over a long written open offer made so far for the acquisition of listed companies.
Snapshot of Open Offer
TARGET COMPANY: ANAND LEASE AND FINANCE LIMITED
Acquirers Name
Jayesh Patel, Pranay Patel, Deepak Patel, Prakash Patel and Sandip Patel
Triggering Event
Triggering Date
May 02, 2008
Date of Open Offer
May 07, 2008
Regulation Number
10 & 12
Regulation Title
Substantial Acquisition of shares
accompanied with change in control
Company’s Details
Industry
Banking & Finance
Paid Up Capital
Rs.276.01 Lacs
Listed At
ASE & JSE
Open Offer Details
Offer Size
7,83,243 equity shares (20%)
Price
Rs.4.90/- per share
Acquirer’s holding Details:
Shareholding before the SPA
Shares acquired by way of SPA
Shares acquired in the open Offer
Shareholding after the Open offer
No. of shares
%
No. of
shares
Nil
1669924
42.64%(equity share capital)
59.99%(voting capital)
10000
0.26%(equity share capital)
0.36%(voting capital)
1679924
42.90%(equity share capital)
60.35%(voting capital)
Merchant Banker to the Offer
Registrar to the Offer
Chartered Capital & Investment Ltd.
Intime Spectrum Registry Ltd.
DISTINGUISHED FEATURE: Acquisition is for 16, 69,924 fully paid up shares representing 42.64% of the total issued equity share Capital and representing 59.99 % of voting share capital of Target Company due to the partly paid up shares which do not carry the voting rights.