This is in continuation of the Exchange notice no. 20200318-8 dated March 18, 2020 for Offer to Buy by Mr. Yatin Sanjay Gupte (“Acquirer 1”), Mr. Sojan V Avirachan (“Acquirer 2”) and Mr. R Venkataramana (“Acquirer 3”) to acquire up to 10,50,000 (Ten Lakhs Fifity Thousand Only) Equity Shares of Rs. 10 (Rupees Ten Only) each representing 35% of Equity Share Capital of the Orchid Securities Limited (“Target Company”) at a price of Rs. 7.50 (Rupees Seven and Fifty Paise only) per Equity Share (“Offer Price”), payable in cash, to the existing shareholders of Target Company, pursuant to Regulation 3(1) and 4 of SEBI (SAST) Regulations 2011 and subsequent amendments thereof.
The Manager to the Offer Mark Corporate Advisors Private Limited has informed the Exchange about the extension of closing date of Open Offer period to April 24, 2020 due to PAN India lockdown pursuant to COVID 19 Virus pandemic, the public shareholder’s/seller’s broker are finding difficulty in tendering the shares in open offer of Orchid Securities Ltd.
Accordingly, the revised Open Offer period for shareholder of Orchid Securities Ltd. is from April 08, 2020 to April 24, 2020.
The Manager to the Offer Mark Corporate Advisors Private Limited has also informed the Exchange that Public Announcement will be issued for the extension of the Offer period.
Market participants are further requested to note the revised details of this Open Offer are available on BSE Website – www.bseindia.com
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Listing Sales & Ops