AAA Technologies: Acquirers to Make Open Offer for 26.00% Stake at ₹101.00 per Share
AAA Technologies Limited, a frequently traded company on BSE and NSE, has received a Public Announcement from Mark Corporate Advisors Pvt Ltd regarding an Open Offer from Jyotirgamya Advisory Private Limited (Acquirer 1) and Mr. Ashok Kumar Chordia (Acquirer 2). The Open Offer is for the acquisition of up to 33,34,968 fully paid-up equity shares, representing 26.00% of the Voting Share Capital of AAA Technologies Limited, at a price of ₹101.00 per share, amounting to a total consideration of ₹33,68,31,768.00. This offer is a triggered mandatory offer made by the Acquirers in compliance with Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011, following the acquisition of substantial voting rights and change in control of the Target Company.
Key Highlights
- AAA Technologies Limited to face an Open Offer from Acquirers Jyotirgamya Advisory Private Limited and Mr. Ashok Kumar Chordia.
- Offer for up to 33,34,968 fully paid-up equity shares, representing 26.00% of the Voting Share Capital of AAA Technologies Limited.
- Offer price set at ₹101.00 per share, amounting to a total consideration of ₹33,68,31,768.00.
- Triggered Offer made in compliance with Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011.
- Acquirers to become Promoters of the Target Company, with no intention to delist the company.