BSE : Opening of Offer to Buy – Acquisition Window (Buyback) for eClerx Services Limited
January 27, 2023 at 07:49 am EST
Share
NOTICES
Notice No.
20230127-16
Notice Date
27 Jan 2023
Category
Trading
Segment
Equity
Subject
Opening of Offer to Buy - Acquisition Window (Buyback) for eClerx Services Limited
Attachments
eClerx Services Limited - Letter of Offer.pdf ;
Content
Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeover, Buy Back and De-listing vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020,20201102-43 dated Nov 02, 2020 and 20210825-62 dated Aug 25,2021 has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.
All Market Participants are hereby informed that eClerx Services Limited ("The Company") has announced an offer for buy back of upto 1,714,285 (One Million Seven Hundred Fourteen Thousand Two Hundred And Eighty Five) fully paid-up equity shares of face value of Rs.10/- (Rupees Ten Only) each of the Company ("Equity Shares" Or "Shares"), at a price of Rs.1,750/- (Rupees One Thousand Seven Hundred And Fifty Only) per equity share payable in cash for an aggregate amount of upto Rs.3,000 Millions (Rupees Three Thousand Millions Only), excluding expenses incurred or to be incurred for the buy back, which represents 24.47% and 19.85% of the aggregate of company's fully paid-up equity share capital and free reserves as per the latest audited standalone and consolidated financial statements as on March 31, 2022 respectively, through the tender offer route using the stock exchange mechanism, on a proportionate basis from all the equity shareholders/beneficial owners of the equity shares of the Company as on the record date,from February 03, 2023, to February 16, 2023.<_o3a_p>
Letter of Offer is herewith attached for perusal.<_o3a_p>
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website - www.bseindia.com.<_o3a_p>
BSE Ltd. published this content on 27 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2023 12:48:08 UTC.
BSE Limited is an India-based stock exchange company. The Company provides a platform for trading in equity, debt instruments, derivatives, and mutual funds. It also has a platform for trading in equities of small-and-medium enterprises (SME). The Company operates through Stock Exchange Operations segment that facilitates trading in securities and other related ancillary services. It also provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. The Companyâs systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market, and stimulate innovation and competition across all market segments. The Company's subsidiaries include Indian Clearing Corporation Limited, BSE Investments Limited, BSE E-Agricultural Markets Limited, BSE EBIX Insurance Broking Private Limited, BSE Administration and Supervision Limited, among others.