RELIANCE INFRASTRUCTURE LTD. - Updates on Open Offer to the Shareholders of Pipavav Defence and Offshore Engineering Company
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| 16 Nov 2015 | |
| With respect to the Open Offer for acquisition of upto 19,14,13,630 equity shares of Pipavav Defence and Offshore Engineering Company Ltd representing 26% of the Equity Share Capital of the Target Company by Reliance Defence Systems Private Limited (the Acquirer) along with Reliance Infrastructure Limited (the PAC) and further to the Public Announcement dated March 4, 2015 (the Public Announcement/ PA), the Detailed Public Statement dated March 11, 2015 (the Detailed Public Statement/ DPS), the Draft Letter of Offer dated March 18, 2015 (the Draft Letter of Offer/ DLoF), and the intimations to the Stock Exchanges dated May 11, 2015, September 12, 2015 and November 7, 2015 issued by JM Financial Institutional Securities Limited (JM Financial), has submitted to BSE a Copy of status update on the approval from the Gujarat Maritime Board (the GMB) and indicative schedule of activities relating to the Open Offer.<BR><BR>Further to the intimation issued by JM Financial dated November 7, 2015 regarding the status of the approval from the GMB, also inform you that the GMB, vide letter dated November 7, 2015 to the Target Company, received by the Acquirer from the Target Company on November 13, 2015, has communicated the approval to the Sub Concession Agreement (SCA) to be executed between the parties. The Acquirer has accordingly decided to proceed with the Open Offer to the public shareholders of the Target Company. | |
| View all announcements for RELIANCE INFRASTRUCTURE LTD. | Source: BSE India |
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