MCDOWELL HOLDINGS LTD. - Updates on Open Offer by Zuari Fertilisers and Chemicals

Ambit Corporate Finance Private Ltd and ICICI Securities Ltd ("Managers to the Offer") has submitted to BSE a Copy of Letter received from SEBI in connection with the Open Offer by Zuari Fertilisers and Chemicals Ltd ("Acquirer") together with Zuari Agro Chemicals Ltd ("PAC1"), United Breweries (Holdings) Ltd ("PAC2"), Kingfisher Finvest India Ltd ("PAC3") and McDowell Holdings Ltd ("PAC4") as the persons acting in concert (Collectively, "PAC") to the Public Shareholder of Mangalore Chemicals and Fertilizers Ltd ("Target Company") with respect to timing of the commencement and Closure of the Offer.