Open Offer for Industrial Investment at Rs.111 per share

Ashika Capital Ltd ("Manager to the Offer") for and on behalf of N N Financial Services Pvt Ltd, Nimbus (India) Ltd, Mr. Bipin Agarwal & Mr. Swaran Singh ("Acquirers") has issued this Public Announcement ("PA") to the shareholders of Industrial Investment Trust Ltd ("Target Company"), pursuant to and in compliance with, among others, regulation 10 & 12 of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 and subsequent amendments thereto ("Regulations").

The Offer

The Acquirers are now making this Open Offer ("Offer") to the shareholders of the Target Company (other than Parties to the Agreement) to acquire upto 20,00,000 equity shares of Rs 10/- each at a price of Rs 111/- per share ("Offer Price") representing 20% of its voting capital payable in cash in terms of regulation 20.

Schedule of Activities

Specified Date: August 11, 2007

Date of Opening of the Offer: September 24, 2007

Date of Closing of the Offer: October 13, 2007

Source : Equity Bulls

Keywords