Axis Bank Ltd ("Manager to the Offer") on behalf of AAA United B.V. (the "Acquirer") along with Aktieselskabet af 1/8 2004 ("PAC1") and Ashwell Holding Company Pvt Ltd ("PAC 2"), being the persons acting in concert ("PAC 1", and "PAC 2" are jointly referred to as "PACs"), has informed this Public Announcement ("PA") to the equity shareholders of Bombay Rayon Fashions Ltd ("Target Company"), pursuant to regulation 10 and regulation 12 of, and in compliance with, the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 and subsequent amendments thereto (the "SEBI (SAST) Regulations").
The Offer:
The Acquirer along with the PACs are making this Offer under regulations 10 and 12 of the SEBI (SAST) Regulations to the equity shareholders of the Target Company to acquire up to 2,84,20,000 (Two Crore eighty four lacs twenty thousand) Equity Shares, being 20.00% of the Emerging Voting Capital of the Target Company (the "Offer Size") at a price of Rs. 300/- (Rupees Three hundred only) per Equity Share ("Offer Price"), payable in cash, in accordance with the SEBI (SAST) Regulations and subject to the terms and conditions mentioned in the PA and in the letter of offer in accordance with the SEBI (SAST) Regulations (the "Letter of Offer"). The Offer Size of 20.00% of Emerging Voting Capital being 2,84,20,000 (Two Crore eighty four lacs twenty thousand) Equity Shares are reckoned on the basis of Emerging Voting Capital in terms of regulations 21(1) and 21(5) of the SEBI (SAST) Regulations.
Schedule of Activities:
Specified Date - April 29, 2011
Date of Opening of the Offer - May 30, 2011
Date of Closing of the Offer - June 18, 2011
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