AI Global Investments (Cyprus) PCC Limited ("Acquirer") is making an open offer for acquisition of up to 13,070,429 Equity Shares of DFM Foods Limited (Target Company), constituting 26% (Twenty Six Percent) of the expanded voting equity share capital of the Target Company (as of the 10th working day from the closure of the tendering period for the Open Offer).
The Offer is being made at a price of INR 249.50 per Equity Share ("Offer Price").
The Acquirer has entered into (i) a Share Purchase Agreement dated September 9, with Delhi Flour Mills Company Limited, Mohit Jain and Rohan Jain to acquire up to 19,174,350 Equity Shares, constituting 38.27% of the paid up share capital of the Target Company as on the date of this Public Announcement ("Paid Up Share Capital") and 38.14% of the Expanded Voting Share Capital ("SPA 1"); (ii) a Share Purchase Agreement dated September 9, 2019, with WestBridge Crossover Fund, LLC, Aravali Investment Holdings and Jwalamukhi Investment Holdings to acquire 12,460,585, constituting 24.87% of the Paid Up Share Capital and 24.79% of the Expanded Voting Share Capital ("SPA 2"); and (iii) a Share Purchase Agreement dated September 9, 2019, with Mr. Manmohan Singh and Ms. Anuradha Sharma to acquire 2,500,000 Equity Shares, constituting 4.99% of the Paid Up Share Capital and 4.97% Expanded Voting Share Capital ("SPA 3" and together with SPA 1 and SPA 2, the "SPAs").
Shares of DFM FOODS LTD. was last trading in BSE at Rs.281.5 as compared to the previous close of Rs. 267.1. The total number of shares traded during the day was 5934 in over 436 trades.
The stock hit an intraday high of Rs. 281.5 and intraday low of 266.35. The net turnover during the day was Rs. 1598026.