Tikani Exports Acquires Bhandari Hosiery Stake via Rights Issue

Tikani Exports Limited, a promoter group entity, acquired 5,70,09,375 equity shares of Bhandari Hosiery Exports Limited under its recently concluded Rights Issue.
Post-acquisition, Tikani Exports' stake rose sharply from 0.04% (1,00,000 shares) to 17.15% (5,71,09,375 shares) of total share capital.
The acquisition is exempt from open offer obligation under Regulation 10(4)(b) of SEBI Takeover Regulations, 2011, as conditions for exemption were duly fulfilled.
Promoters Nitin Bhandari and Nitika Rashesh Shah renounced their rights entitlements, which were subscribed to by Tikani Exports Limited.