Description

Open offer by Mr. Amit Sharma and Mr. Arjit Sachdeva to acquire up to 69,24,902 equity shares representing 13.44% of Anka India Limited at Rs. 17.00 per share.

Summary

Mr. Amit Sharma and Mr. Arjit Sachdeva (Acquirers) have launched an open offer to acquire up to 69,24,902 fully paid-up equity shares of Anka India Limited, representing 13.44% of the existing equity and voting share capital. The offer price is Rs. 17.00 per equity share, payable in cash, in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Key Points

  • Offer made pursuant to Regulations 3(1) and 4 of SEBI (SAST) Regulations 2011
  • Target company: Anka India Limited (CIN: L74900HR1994PLC033268)
  • Offer size: Up to 69,24,902 equity shares (13.44% of existing equity capital)
  • Face value: Rs. 10 per share
  • Offer price: Rs. 17.00 per equity share
  • This is an unconditional offer, not subject to minimum level of acceptance
  • Not a competing offer under Regulation 20 of SEBI (SAST) Regulations
  • Manager to the Offer: Corporate Makers Capital Limited (SEBI Registration: INM000013095)

Acquirer Details

Acquirer-1: Mr. Amit Sharma

  • Address: D 1902, The Grand Arch, Sector 58, Gurgaon Sector 56, Gurgaon, Haryana-122011
  • Contact: +91-9999994536
  • Email: asharma1991@gmail.com

Acquirer-2: Mr. Arjit Sachdeva

Target Company Details

Anka India Limited

Regulatory Framework

  • Offer made under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
  • No other statutory approvals required to acquire equity shares tendered pursuant to this open offer
  • Public Announcement (PA), Detailed Public Statement (DPS), Draft Letter of Offer (DLoF), and Letter of Offer (LOF) available on SEBI website at www.sebi.gov.in

Price Revision and Withdrawal Provisions

  • Any upward revision in offer price/offer size prior to one working day before commencement of tendering period will be announced in the same newspapers where DPS was published
  • Revised offer price will be payable to all eligible equity shareholders who validly tendered shares during the tendering period
  • If offer is withdrawn pursuant to Regulation 23 of SEBI (SAST) Regulations, communication will be made within 2 working days via newspaper announcement
  • No competing offer has been received to date

Impact Assessment

This open offer represents a significant corporate action for Anka India Limited shareholders. The acquisition of 13.44% stake by the acquirers may lead to change in control dynamics. Eligible equity shareholders have the opportunity to exit at the offer price of Rs. 17.00 per share. The unconditional nature of the offer (no minimum acceptance threshold) provides certainty to participating shareholders. Investors should evaluate the offer price against current market price and company fundamentals before making tendering decisions.

Impact Justification

Material corporate action involving acquisition of 13.44% stake in listed company under SEBI takeover regulations, directly impacting shareholders