RHC Finance Private Limited, New Delhi (RFPL) ("Acquirer") has informed BSE that consequent to the acquisition of 7,812,499 Shares of the Religare Enterprises Limited (Target company) at a price of Rs. 457 per equity share ("Block Purchase Shares") through a transaction carried out via block deal on the National Stock Exchange of India Limited, RHC Finance Private Limited ("Acquirer") and Karvy Computershare Private Limited ("Escrow Agent") Jointly, vide their Letter date August 26, 2010, made necessary disclosures to the Stock Exchanges and the Target Company in terms of Sub-regulation (1) of Regulation 7 of the SEBI (Substantial Acquisition of Shares & Takeover) Regulations, 1997 and Regulation 13(1) of SEBI (Prohibition of Insider Trading) Regulations, 1992.
Pursuant to the aforesaid acquisition, RFPL made an open offer to all the shareholders of Religare Enterprises Limited in terms of provisions of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997. On August 24, 2010, RFPL had entered Into an escrow agreement with Karvy Computershare private Limited, Hyderabad, to act as an escrow Agent for the purpose of holding the aforesaid block Purchase Shares and exercising voting rights thereon, until completion of the Open Offer formalities.
As the aforesaid Open Offer formalities have now been completed, the Block Purchase Shares have been transferred from the Escrow Account of Escrow Agent to the Acquirer on January 28, 2011.Read More
Sensex
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Tuesday, February 01, 2011
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