Business Update18 Jul 2024, 02:03 pm
Acquirers Nitin Minocha and Copo Holdings to Acquire 26.00% Stake in NB Footwear Limited for Rs. 7.00/- per Share
AI Summary
Navigant Corporate Advisors Ltd has submitted a Public Announcement for the acquisition of up to 35,10,000 equity shares of NB Footwear Limited by Nitin Minocha and Copo Holdings Private Limited. The offer price is set at Rs. 7.00/- per fully paid-up Equity Share, amounting to 26.00% of the fully paid-up and voting share capital of the Target Company. This acquisition is being made under Regulation 3 (1) and 4 of SEBI (SAST) Regulations, 2011, and is triggered by the execution of the Share Purchase Agreement dated 17th July, 2024, between the acquirers and existing promoters of the Target Company.
Key Highlights
- Nitin Minocha and Copo Holdings Private Limited to acquire up to 35,10,000 equity shares of NB Footwear Limited.
- Offer price set at Rs. 7.00/- per fully paid-up Equity Share.
- Acquisition represents 26.00% of the fully paid-up and voting share capital of the Target Company.
- Based on Regulation 3 (1) and 4 of SEBI (SAST) Regulations, 2011.
- Triggered by the Share Purchase Agreement dated 17th July, 2024.