KG Denim - open offer

04 Sep '07

1 min read

Indbank Merchant Banking Services Ltd for & on behalf of Shri. KG Baalakrishnan, Shri B Sriramulu, Shri. B Srihari & Sri Kannapiran Mills Ltd & Smt. B Sathyabama, Smt. T Anandhi, Smt. Nirupa Sriramulu, Smt. Deepika Karthikeyan, KG Fabriks Ltd, Ganapathykumaran Investments Pvt Ltd and Kumaranganapathy Investments Pvt Ltd, has issued this Public Announcement to the Shareholders of KG Denim Ltd, pursuant to and in compliance with, among others Regulation 11(1) of the Securities and Exchange Board of India Regulations, 1997, as amended from time to time issued by the Securities and Exchange Board of India.

The Acquirer is making an offer alongwith the PAC's for acquisition of 5,130,781 fully paid up equity shares from the existing shareholders of the Target Company (other than the Promoter Group), representing 20% of the Post Preferential Issue Capital of the Target Company, at a price of Rs 18 per share payable in cash.

Upon the completion of the Offer, assuming full acceptance, the Promoter Group will hold 73.54% of the then outstanding voting and equity share capital:
• Schedule of Activities
• Specified Date: September 28, 2007
• Date of Opening of the Offer: October 25, 2007
• Date of Closing of the Offer: November 13, 2007

KG Denim Ltd

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