Archana Software: Updates on open offer

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26 Aug, 2025 12:21

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Birla Capital & Financial Services Ltd ("Manager to the Open Offer") on behalf of Mr. Vasanth Kumar Sundaravadivelu ("Acquirer") has informed this Detailed Public Statement ("DPS") in respect of the Open Offer to the Equity Shareholders Archana Software Ltd (Formerly known as SSL Finance Ltd) ("Target Company"), pursuant to and in compliance with Regulation 13(4) and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto ("SEBI (SAST) REGULATIONS" or "REGULATIONS" or "TAKEOVER REGULATIONS") pursuant to the Public Announcement ("PA") filed on February 14, 2013(Thursday) with Bombay Stock Exchange Limited ("BSE") and Madras Stock Exchange Limited ("MSE"), with Securities and Exchange Board of India (SEBI) and the Target Company in terms of Regulation 4 of the SEBI (SAST) Regulations, 2011.The Offer:This Open Offer (the "Open Offer") is being made pursuant to 7(6) of the SEBI (SAST) Regulations, 2011, to the Equity Shareholders of the Target Company by Acquirer to acquire up to 1,577,342 (Fifteen Lakhs Seventy Seven Thousand Three Hundred & Forty Two) Equity Shares of the face value of Rs. 10/- (Indian Rupees Ten Only) each fully paid up representing 26.00% (Twenty Six Percent) of the total paid-up Equity Share Capital of 6,066,700 shares at a price of Rs. 2.00 (Rupees Two Only) per fully paid-up Equity Share ("Offer Price") payable in cash subject to the terms and conditions mentioned in DPS.Tentative Schedule of Activity:Identified Date - March 26, 2013Date of commencement of tendering period - April 12, 2013Date of closing of tendering period - April 29, 2013Source : BSE

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