Tikani Exports Limited Acquires Shares in Bhandari Hosiery Exports Limited Under Rights Issue Exemption

Tikani Exports Limited, a Promoter Group Entity, has acquired equity shares of Bhandari Hosiery Exports Limited under the recently concluded Rights Issue. The acquisition falls under the exemptions prescribed under Regulation 10(4) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, and Tikani Exports Limited is exempt from the obligation to make an open offer. The acquisition is made pursuant to the rights issue, including the subscription to shares arising from the renunciation of entitlements by other promoters, namely Mr. Nitin Bhandari and Mrs. Nitika Rashesh Shah. The acquisition is exempt from the obligation to make an open offer pursuant to Regulation 10(4)(b) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.