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Feb 25, 2013, 08.23 AM | Source: Moneycontrol.com

Orient Green Power: Updates on open offer

Shriram Industrial Holdings Pvt Ltd, Orient Green Power PTE. Ltd. and Shriram Venture have made an open offer to acquire up to 14,77,00,345 fully paid-up equity shares of face value of Rs 10 each of Orient Green Power Company at a price of Rs 15.

Axis Capital Ltd ("Manager to the Open Offer") has submitted to BSE a Copy of Public Announcement ("PA") to the Public Shareholders of Orient Green Power Company Ltd ("Target Company") for acquisition of up to 14,77,00,345 (fourteen Crore, Seventy Seven Lacs, Three Hundred and Forty Five only) fully paid-up equity shares of face value of Rs. 10 (Rupees ten) each of the Target Company ("Equity Share"), representing 26% (twenty six percent) of the fully diluted voting equity share capital of the Target Company ("Voting Share Capital"), as of the 10th (tenth) working day from the closure of the tendering period, at a price of Rs. 15.00 per Equity Share("Offer Price"), by Shriram Industrial Holdings Private Ltd (“SIHPL”/”Acquirer”) and Orient Green Power PTE. Ltd. (“OGPTE”) and Shriram Venture Ltd (“SVL”), in their capacity as persons acting in concert ("PACs") with the Acquirer, under Regulations 3(1), 3(2), 4, and 5(2) read with Regulations 13(2)(f) and 15(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011(the ("SEBI (SAST) Regulations").Source : BSE

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