IPCA LABORATORIES LTD. - Updates on Open Offer to the Shareholder of Krebs Biochemicals & Industries Ltd
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| 24 Feb 2015 | |
| Arihant Capital Markets Ltd ("Manager to the Offer") on behalf of Ipca Laboratories Limited, (Acquirer) has informed BSE about this Detailed Public Statement ("DPS") being issued to the public equity shareholders of Krebs Biochemicals & Industries Ltd ("Target Company"), in compliance with Regulation 13(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (SEBI SAST Regulations) pursuant to the Public Announcement filed on February 13, 2015 with the Stock Exchanges / Securities and Exchange Board of India (SEBI) / Target Company in terms of Regulation 3(1) and 4 of the SEBI SAST Regulations.<BR><BR>This open offer is being made pursuant to Regulation 3(1) and 4 of the SEBI SAST Regulations as aforesaid, to the public equity shareholders of Target Company by Ipca Laboratories Limited to acquire 35,73,515 Equity Shares of Rs. 10/- each representing 26% of the fully diluted Equity and voting Share Capital of the Target Company, post preferential allotment and conversion of warrants issued on preferential basis of the Target Company, at a price of Rs. 54/- per Equity Share (Offer Price) payable in cash subject to the terms and conditions mentioned hereinafter (the Open Offer or Offer).<BR><BR>Tentative Schedule of Activity:<BR><BR>Date of commencement of tendering period (open date) : April 15, 2015<BR><BR>Date of expiry of tendering period (closure date) : April 28, 2015 | |
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