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GAIL (India) Limited Capital/Financing Update 2021
14802_rns_2021-09-14_83f0f4f5-a610-44b8-882b-06f9d6c6eac6.pdf
Capital/Financing Update
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1IB . 16 cfiTlTT ~ ~ ~-110066, 'lffiCl GAIL BHAWAN, 16 BHIKAIJI CAMA PLACE NEW DELHl-11 0066, INDIA i:wf/ PHONE : +91 11 26182955 i:JicR,/ FAX: +91 11 26185941 { - ~ / E-mail: [email protected]
ND/GAIL/SECTT/2021
14.09.2021
| ! 1. Listing Compliance | ! 2. Listing Compliance |
|---|---|
| !National Stock Exchange of India Limited ' | BSE Limited |
| !Exchange Plaza, 5th Floor, | Floor 1, Phiroze Jeejeebhoy Towers, |
| iPlot No.C/1,GBlock,Bandra-Kurla | Dalal Street, |
| !Complex, | Mumbai -400001 |
| !Sandra (East), Mumbpai -400051 | |
| i ________ Scrip Code:_ GAIL-EQ _________________ | ________________________________ Scrip Code:_ 532155 ------------------------------------ |
Sub.: Reply - Clarification /Confirmation on news item appearing in "Media/Publication"
Dear Sir,
This is in reference to your e-mail dated 13.09.2021.
This is to inform that with the approval of GAIL Board, GAIL had submitted bid to acquire 26% equity stakes of Infrastructure Leasing and Financial Services (IL&FS) group in ONGC Tripura Power Company Limited (OTPC) on 24.12.2020. This was in response to the Expression of Interest (EOI) invited by IL&FS for acquisition of its stakes in OTPC through an open advertisement against which GAIL had submitted its EOI and was shortlisted for the next stage of submission of binding offer. Subsequently, Mis Arpwood (advisor of IL&FS) vide e-mail dated 05.06.2021 informed that GAIL has emerged as H 1 bidder and it shall be declared successful bidder subject to the approval of Committee of Creditors (CoC) of IL&FS group and approval of Hon'ble Justice D. K. Jain followed by NCL T approval. In order to successfully complete the transaction, Mis Arpwood requested GAIL to initiate the process towards obtaining the Competition Commission of India's (CCI) approval.
Accordingly, application for CCI approval was submitted by GAIL on 09.08.2021. CCI granted its approval for the proposed transaction vide letter dated 09.09.2021. Parallely, Mis Arpwood (advisor of IL&FS) vide e-mail dated 31.08.2021 provided the Letter of Intent (LOI) to GAIL. GAIL is in the process of accepting LOI and signing SPA with IL&FS. After acceptance of LOI by GAIL and signing of SPA, IL&FS shall send the proposal to NCL T for approval.
°ffi~/ CIN L40200DL 1984GOl018976 www.gailonline.com
It may be noted that the transaction will be completed and IL&FS's shares in OTPC will be transferred to GAIL after NCLT approval.
This is for your information and records please.
Mv
Thanking you, Yours faithfully,
(A.K. Jha) Compa~ Secretary
Copy to:
I. Deutsche Bank AG, Filiale Mumbai TSS & Global Equity Services The Capital, 14th Floor C-70, G Block, Bandra Kurla Complex Mumbai -400051
KIA- Ms. Aparna Salunkhe