UPASANA FINANCE LTD - BUYBACK

Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017, has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.

All Market Participants are hereby informed that  Ms. Rekha Jain (“Acquirer 1"), Ms. Bhavika Jain (“Acquirer 2") and Ms. Khushbu Jain (“Acquirer 3”) have made an open offer to the existing shareholders of Upasana Finance Limited(“UFL”/“Target Company”), to acquire upto 11,12,300 Equity Shares of Rs 10/- each representing 26% of Equity Share Capital/Voting Capital of the Target Company at a price of Rs 40/- (Rupees Forty only) per Equity Share (“Offer Price") plus interest @ 10% per annum per Equity Share for delay in payment beyond the Scheduled Payment Date (as defined in Letter of Offer), payable in cash from July 07, 2017 to July 20, 2017.

Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
 
Trading Members and Custodian Members of the Exchange are requested to note the schedule of activities in respect of Offer to buy – Acquisition Window (BuyBack) of shares of UPASANA FINANCE LTD scheduled from Friday, July 7th, 2017 to Thursday, July 20th, 2017 on the Exchange is as follows.