Arco Leasing Ltd: JJ IPO Advisors Submits Draft Letter of Offer for Open Offer of Equity Shares

JJ IPO Advisors Pvt Ltd has submitted a Draft Letter of Offer for the attention of public shareholders of Arco Leasing Ltd. The open offer is for the acquisition of up to 27,74,970 offer shares, representing 25.57% of the expanded voting share capital of Arco Leasing Ltd. The offer price is ₹10.00/- per offer share, payable in cash. The offer is not conditional upon a minimum level of acceptance and is not a conditional offer. The offer is not a competing offer. The offer is conditional upon receipt of approval from the Reserve Bank of India. The Target Company has filed an application for In-Principle approval of BSE Limited in respect of proposed preferential issue.