9th-May-2012 16:25Source: BSE

Kailash Auto - Open Offer to the shareholders of Kailash Auto Finance Limited (KAFL)

Kailash Auto Finance Ltd (KAFL) has informed BSE that the Company have been informed by VC Corporate Advisors Pvt. Ltd acting as the Manager to the aforesaid Open Offer that M/s. Panchshul Marketing Limited, having its Registered Office at 16, India Exchange Place, 1st Floor, Room No. 26 Kolkata - 700 001 & M/s. Careful Projects Advisory Limited, having its Registered Office at 6, Lyons Range, Fortuna Chambers, Ground Floor, Room No. 50, Kolkata - 700 001 (hereinafter collectively referred to as “Acquirers”) have entered into a Share Purchase Agreement dated May 02, 2012 with the present Promoter of the Company viz., M/s. Padma Impex Private Limited to acquire in aggregate 26,23,317 equity shares constituting 68.93% of the total equity and voting share capital of the KAFL.

Pursuant to the aforesaid Agreement the Acquirers intends to make an Open Offer to from them 26% of the equity and voting and share capital of the Company. In this regard the Company have also received a copy of the Public Announcement issued by the Manager to the Offer on behalf of the Acquirers.