This Document Is Important and Requires Your Immediate Attention
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LETTER OF OFFER “This Document is important and requires your immediate attention. This Letter of Offer is sent to you as a shareholder(s) of RAJPUTANA INVESTMENT & FINANCE LIMITED . If you require any clarifications about the action to be taken, you may consult your Stock Broker or Investment Consultant or Manager/Registrar to the Offer. In case you have recently sold your shares in the Target Company, please hand over this Letter of Offer and the accompanying Form of Acceptance cum Acknowledgement and Transfer Deed to the Member of Stock Exchange through whom the said sale was effected . OPEN OFFER BY M/s. B R D Developers and Builders Limited (hereinafter referred to as “ the Acquirer” or “BRDDBL”) CIN : U45200KL2010PLC026202 Registered Office - Door No. XIII/436, A 1, Second Floor, Bethany Complex, Thrissur Road, Kunnamkulam, Kerela- 680503; Tel : 04885228565, Fax : 04885226144, E-mail : [email protected], Website : www.brdgroup.net Along with Persons Acting In Concerts (“ PACs ”) viz, Name of the PACs Address Tel William Varghese Chungath Cheru Chungath House, Guruvayur Road Kunnamkulam, P.O. Thrissur - 04885214000 (PAC 1) 680503 Gigy Verghese Pulikkottil (PAC 2) Joy Villa, Thrissur Road, Kanipayur, Thrissur - 680517, 04885228500 Chanayil Gopalan Surendran Villa No. 26, Sivaprasadan Skyline Kingsmead, Cheroor Road, 04872333635 (PAC 3) Peringa VU Thrissur - 680018 Porathur Devassy Antony (PAC 4) Porathur House Vellattanjur P.O. Thrissur - 680601 04885228565 Cheruvathoor Kuriappan Appumon Cheruvathoor House, Santhinagar, Kunnamkulam, Thrissur - 04885214000 (PAC 5) 680503 Edison PA (PAC 6) Porathur House Vellattanjur P.O, Velur, Thrissur - 680601 04885327779 Torison PA (PAC 7) Porathur House Vellattanjur P.O, Velur, Thrissur - 680601 04943229999 Kochumathew C J Chowalloor House, Brahmakulam, Thaikkad Panchayath, Thrissur - 04885228500 (PAC 8) 680104 Kochuthressia (PAC 9) Porathur House Vellattanjur P.O, Thrissur - 680601 04885228565 Jimson PA (PAC 10) Porathur House Vellattanjur P.O, Velur, Thrissur - 680601 04943229999 To the shareholders of RAJPUTANA INVESTMENT & FINANCE LIMITED (hereinafter referred to as “RIFL " or the “ Target Company ”) CIN : L65929WB1941PLC010731 Registered office : Nigam Centre 155, Lenin Sarani, Room No.108, 1st Floor Kolkata- 700013 Tel : – 033-8232027550; Fax : 033-32627550, E-mail : [email protected] Website : www.rajputanainvestment.com For the acquisition of 8,00,800 (Eight Lakhs Eight Hundred Only) fully paid-up equity shares of Rs. 10/- each, representing 26% of the total paid up equity and voting share capital at a price of Rs. 11.50 (Eleven and Fifty Paise Only) per equity share (“ Offer Price ”) payable in cash (“ Offer ” or “ Open Offer ”). Please Note: 1. This Offer is being made by the Acquirer alongwith the PACs pursuant to regulations 3(1) & 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto (“ SEBI (SAST) Regulations ”) for substantial acquisition of shares/ voting rights accompanied with change in control and management of the Target Company. 2. There are no statutory approvals required to acquire equity shares that are tendered pursuant to this Offer. However, the Offer would be subject to all statutory approvals as may be required and/or may subsequently become necessary to acquire at any later date. 3. If there is any upward revision in the Offer Price/Size at any time up to three (3) working days prior to commencement of the tendering period viz. 11.07.2018 in terms of the SEBI (SAST) Regulations, the same would also be informed by way of a Public Announcement in the same newspapers where the original Detailed Public Statement dated 26.03.2018 had appeared. Such revision in the Offer Price would be payable by the Acquirer alongwith the PACs for all the shares validly tendered anytime during the offer. If the Offer is withdrawn pursuant to regulation 23, the same would be communicated within two (2) working days by an Announcement in the same newspapers in which the Detailed Public Statement had appeared. 4. There is no competative bid. 5. Shareholders, who have accepted the Offer by tendering the requisite documents in terms of the Public Announcement/ Detailed Public Statement/Corrigendum to the Detailed Public Statement/ Letter of Offer, shall not be entitled to withdraw such acceptance during the tendering period. 6. This Offer is not conditional upon any minimum level of acceptance in terms of the regulation 19(1) of the SEBI (SAST) Regulations. 7. The Procedure for acceptance and settlement is set out in Para 7 of this Letter of Offer. A Form of Acceptance cum Acknowledgement is enclosed with this Letter of Offer. 8. A copy of the Public Announcement, Detailed Public Statement, Corrigendum to the Detailed Public Statement and Letter of Offer (including Form of Acceptance cum Acknowledgement) would also be available at SEBI’s website www.sebi.gov.in . MANAGER TO THE OFFER: REGISTRAR TO THE OFFER: VC CORPORATE ADVISORS PRIVATE LIMITED MAHESHWARI DATAMATIC S PRIVATE SEBI REGN NO: INM000011096 LIMITED (Contact Person: Mr. Anup Kumar Sharma) SEBI Regn. No.: INR000000353 31, Ganesh Chandra Avenue, (Contact Person: Mr. S.Rajagopal) 2nd Floor, Suite No.–2C, 23, R.N. Mukherjee Road, (5th Floor), Kolkata-700 013 Kolkata – 700 001, Phone No : (033) 22253940 Tel No.: (033) 2243 5809/5029; Fax : (033) 2225 3941 Fax No.: (033) 2248 4787, Email: [email protected] E-mail-Id: [email protected] TENDERING PERIOD OPE NS ON: TENDERING PERIOD CLO SES ON : 17.07.2018 (TUESDAY) 30.07.2018 (MONDAY) A SCHEDULE OF SOME OF THE MAJOR ACTIVITIES RELATING TO THE OFFER IS GIVEN BELOW: Activities Original Revised Date Day Date Day Date of the Public Announcement(PA) 19.03.2018 Monday 19.03.2018 Monday Publication of Detailed Public Statement in 26.03.2018 Monday 26.03.2018 Monday newspapers Last date of Filing of the Draft Offer Document with 04.04.2018 Wednesday 04.04.2018 Wednesday the SEBI Last date of a Competing Offer 18.04.2018 Wednesday 18.04.2018 Wednesday Identified Date* 27.04.2018 Friday 03.07.2018 Tuesday Date by which the Letter of Offer will be dispatched 08.05.2018 Tuesday 10.07.2018 Tuesday to the shareholders Last date for upward revision of Offer Price and/or 09.05.2018 Wednesday 11.07.2018 Wednesday Offer Size Last date by which Board of the Target Company 10.05.2018 Tuesday 13.07.2018 Friday shall give its recommendation Advertisement of Schedule of Activities for Open Offer, status of statutory and other approvals in 14.05.2018 Monday 16.07.2018 Monday newspapers and sending the same to SEBI, Stock Exchanges and Target Company Date of commencement of tendering period 15.05.2018 Tuesday 17.07.2018 Tuesday Date of closing of tendering period 28.05.2018 Monday 30.07.2018 Monday Date by which communicating rejection/ acceptance and payment of consideration for 11.06.2018 Monday 13.08.2018 Monday applications accepted *Identified Date is only for the purpose of determining the names of the shareholders as on such date to whom the Letter of Offer would be sent. All owners (registered or unregistered) of equity shares of the Target Company (except the parties to the SPAs and the PACs) are eligible to participate in the Offer any time before the Closure of the Offer. Risk Factors relating to the transaction, the proposed offer and probable risks involved in associating with the Acquirer alongwith the PACs: Risks involved relating to Transaction 1. The Share Purchase Agreements (SPAs) dated 19.03.2018 contains a clause to the effect that the SPAs are subject to the provisions of the SEBI (SAST) Regulations and in case of non-compliance of any provisions of the Regulations by the Acquirer or the Seller, the SPA shall not be acted upon by the parties. Risks involved relating to the Offer 1. The Offer involves an offer to acquire upto 26% of the total equity and voting share capital of RIFL from the eligible persons for the Offer. In the event of over-subscription to the Offer, the acceptance will be on a proportionate basis. 2. In the event that either (a) regulatory approval are not received in a timely manner, (b) there is any litigation leading to stay on the Offer, or (c) SEBI instructs the Acquirer alongwith the PACs not to proceed with the Offer, then the Offer process may be delayed beyond the schedule of activities indicated in this Letter of Offer. Consequently, the payment of consideration to the public shareholders of RIFL whose shares have been accepted in the Offer as well as the return of Shares not accepted by the Acquirer alongwith the PACs may be delayed. In case of the delay, due to non-receipt of statutory approvals, as per regulation 18(11) of the SEBI (SAST) Regulations, SEBI may, if satisfied that the non-receipt of approvals was not due to willful default or negligence or failure to diligently pursue such approvals on the part of the Acquirer alongwith the PACs, grant an extension for the purpose of completion of the Offer subject to the Acquirer alongwith the PACs paying interest to the shareholders for the delay, as may be specified by SEBI. 3. Shareholders should note that shareholders who have tendered shares in acceptance of the Open Offer shall not be entitled to withdraw such acceptance during the tendering period even if the acceptance of Shares under the Offer and dispatch of consideration gets delayed. 4. The Equity Shares tendered in the Offer will be held in the pool account of my/ our Selling Broker / and the lien will be marked by Clearing Corporation until the Settlement date and accordingly, the Shareholders who have tendered their Equity Shares will not be able to trade such Equity Shares during such period.