Centrum Capital’s unlisted subsidiary - Centrum Direct (CDL), has entered into a Share Purchase Agreement (SPA) with Uttam Bagri and Bharat Bagri and BCBFL to acquire 26.15% of the equity share capital of BCBFL held by promoter and promoter group of BCBFL.
The equity shares of BCBFL are listed on SME segment of BSE. The acquisition of the initial 26.15% will trigger open offer obligations under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 Act, and therefore CDL will make an open offer to the existing equity shareholders of BCBFL to acquire additional 26.01% equity shares of BCBFL.
Post the open offer the shareholding of the CDL in BCBFL will aggregate to 52.16%, this is however subject to compliance of relevant rules, regulation and permission from the statutory authorities.
