Takeover:
Open offer for acquisition of 3,34,172 equity shares of Rs. 10/- each from public shareholders of Tumus Electric Corporation Limited (“Target Company”) by Redribbon Modulex Buildings Limited (“Acquirer”) along with Modulex Modular Buildings Plc (“pac1”) and Modulex Modular Buildings Private Limited (pac2) in their capacity as the person acting in concert with the acquirer (“offer” or “open offer”).
Tumus Electric Corporation Limited
Right Issue:
Company is offering the shares with the object:
– Investment in IVL Finance Limited, a Wholly owned subsidiary
– Investment in Indiabulls Asset Reconstruction Company Limited, subsidiary company
– General corporate purposes
Public Issue:
Draft offer letter filed with SEBI by the following entities with SEBI:
Seven Islands Shipping Limited : Purpose of offer is to:
– Acquisition of a VLCC vessel in the secondary market
– General corporate purposes
Post buyback announcement:
About the Author
