Orissa Sponge - Updates on Open Offer by Bhushan Energy
Bhushan Energy Ltd has informed BSE about the following:
IDFC Capital Ltd ("Manager to the Offer"), on behalf of Bhushan Energy Ltd ("Acquirer"), and Mr. Brij Bhushan Singal, Mr. Neeraj Singal, BNS Steel Trading Pvt Ltd, BBN Transportation Pvt. Ltd, BNR Infotech Pvt. Ltd, BNR Consultancy Services Pvt. Ltd and Bhushan Steel Ltd ("Persons Acting in Concert" or "PACs") has informed this Letter of Offer for the attention of the Equity Shareholders of Orissa Sponge Iron & Steel Ltd ( "the Target Company"), to acquire upto 61,00,000 fully paid up equity shares, representing 20% of the Diluted Capital (as Defined in the Public Announcement), at an Price of Rs 360/- per fully paid up equity shares, in compliance with Regulation 24(3) of the Securities & Exchange Board of India (Substantial Acquisition of Shares & Takeovers) Regulations, 1997.
Revised Schedule of the Activities
Activity Original Date Revised Date
Specified Date March 02, 2009 March 02, 2009 Date of Opening of the Offer April 24, 2009 June 28, 2012 Date of Closing of the Offer May 13, 2009 July 17, 2012