Open Offer announced for Ishwar Bhuvan at Rs.4.50

Fedex Securities Ltd ("Manager to the Offer"), on behalf of ANS Constructions Ltd & Smt. Sangita P Bansal ("Acquirers") has issued this Public Announcement ("PA") to the equity shareholders of Ishwar Bhuvan Hotels Ltd (Target Company), pursuant to and in compliance with Regulations 10 & 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997 ("Regulations") and subsequent amendments thereto has announced as below:

The Offer:

The Acquirers are making an Open Offer to the Public Shareholders of the Target Company to acquire 18,50,000 Equity Shares of Rs 10/- each, at a price of Rs 4.50, representing 33.38% of issued, subscribed, paid up (net of Shares forfeited) & voting Capital of the Target Company. The Offer is at a price of Rs 4.50 per Equity Share fully paid up ("the Offer Price"), payable in cash ("the Offer"), subject to the terms and conditions. There are no partly paid Shares.

Schedule of Activities

Specified Date: January 13, 2007

Date of Opening of the Offer: February 14, 2007

Date of Closing of the Offer: March 05, 2007

Source : Equity Bulls

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