Open Offer for Phaarmasia Ltd at Rs.4

Sobhagya Capital Options Ltd ("Manager to the Offer"), on behalf of M/s Maneesh Pharmaceuticals Ltd ("the Acquirer") and M/s Svizera Labs Pvt Ltd ("PAC" / "Person Acting in Concert") has issued this Public Announcement ("PA") to the shareholders / Beneficial Owners of Phaarmasia Ltd (Target Company), pursuant to Regulation 11 of Chapter III of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 (SEBI (SAST) Regulations 1997) and subsequent amendments thereto ("Regulations").

The Offer

The Acquirer & PAC is making this voluntary open offer to acquire 25,94,245 Equity Shares of Rs 10/- each representing 38% of the voting capital of the Target Company at a price of Rs 4/- per share for each fully paid up equity share of the Target Company (the "Offer Price") payable in cash ("Offer" or "Open Offer").

Schedule of Activities:

Specified Date: May 25, 2007

Date of Opening of the Offer: June 19, 2007

Date of Closing of the Offer: July 09, 2007

Source : Equity Bulls

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