PIJ BLI ' A NOUN EMENT FOR THE ATTENTION OF THE PUBLIC SHAREHOLDERS OF ANGEL FIBERS LIMITED ("TARGET CO 1PA Y") UN DER REG ULATIONS 3(1) AND 4 READ WITH REGULATION 13 (I) AND REGULATION 15(1) OF THE SECURITIES AND 1'. \:('11 A ,E BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011 AND SUBSEQUENT AME J)M E T TIIERETO ("TAKEOVER REGULATIONS")

(

OPI': OFFER FOR ACQUISITION OF UP TO 65,00,000 (SIXTY FIVE LA"" S) FULLY PAID LrP EQUITY SHARES OF 'f 10 EACH 26.00% OF EQUITY SHARE CAPITALIVOTING CAPITAL A OF TIlE TENTII WORKING DA Y FROM THE C LOS URE OF

1 Il10; 1'10: J) ERIN PERIOD OF THE OPEN OFFER FROM THE ELIGIBLE SIIAREIIOLD ER OF TilE ANGEL FIBERS LIMITED FOR CASH 1 A I'IU 'E OF "{ 9.00 (RUPEES NINE ONLY) PER EQUITY SHARE ("OFFER PRICE" ), BY MR. JIT EC'l DRA G. RAIYANI (ACQUIRER No. I)

J) 1R. RA 1£ IIKUMAR JIVRAJBHAI RANIPA (ACQUIRER No.2) (HEREIN AFTER LLE 'TIV~LY REFERRED AS "ACQUIRERS") "II II I TE T ION TO ACQUIRE CONTROL OF THE TARGET COMPANY.

IIII ~ Jlllhlil: announccment (" Public Announcement" / "PA") is bcing issued by Bceline Broking Limited , Ihe 1l1:.!na 'er LO the Orll:r (" Manage r to the Offer"), 101 .Ill I on heh:.!1 I' or the Acquirers 10 the Public Shareholders or the Target 'om pan) pursualll to and in 'oll1p lian " 1\ ith Regu lation 3( I) and ..j. read with I 'l' llllIl ion 13 ( I), 15( I ) and other applicable regulations of the Takeover Regulations.

lor the purpose of this Public Announcement, the following terms have the meanings assigned to them below: (I) " EQU ITY SHARE CAPITAL/VOTING CAPITAL" means Paid-up Equity Share Capital or 25,OO,OO,()()() 'o1l1prising or 2.50,00,000 lilll) paid up Equity hares of race value of 'f 10.00 each: (2) "Public Shareholders" mean the Equity Shareholder(s) of the Target Company other than the Aequirers and the Prol11oters/Sel lers of the Target Company. C) "Working Day" means any \\'orking day of the Securities and Exchange Board oJ'lndia: and (4) "Tendering Period" means Period within wh ich Public Shareholders of the Target Compan) l11a) tender their I ~ quit) Shares in acceptance to the Oflcr.

I. Offer Details

1.1 Offer Size: The Acquircrs hcreb) makes Open Offer to all the Public Shareholders of lhe '1 argel Company, to acquire up to 65 ,00,000 (Si'\l) Fi \ e Lakhs) ("Offer Shares") lilily paid up Equil) Shares of the Target Company. of taee value of 'f) 0 each constituting 26.0()% ( I lIent) Six percent) or lhe equit) share capital/voting capital of the Target Company as of the lOth working day trom the closure or the tendering period , at a price of 'f 9.00 (Rupees I\ine only) per Equ it) Share ("'Offer Price") aggn:gming to 'f 5,85,00,000 (Rupees Five Crores Eight) Fi\c Lakhs Onl) su~iect to the terl1ls and conditions mentioned in this Public Announcement, the detailed public statel1lent C·OPS"). the letter orolTer and an) corrigendulll thereto, iran) , that may b~ issued in relati on to the Olkr in accordance II ith the Takeover Regulat ions.

1.2 Offer Price / Consideration: ~ 9.00 (Rupees Nine only) per Equity Share of luce \ alue on I O.()O each, is calculatcd in accordance with Regulation 8(2) or the I akeO\ er Regulations. Assuming rull acceptance of the Open Olkr, the Iota I consilkwtion payable by the Acquirers in accordance \\ ith the Takeover Regulalions \\ ill be 'f 5.85,00.000 (Fi\ e Crores Eighty Five Lakhs Onl) ).

1.3 Mode of PaY l1lent (cash/ security): The Olkr Pri c~ \\ ill be raid in cash b) Ill' eqllir~ r\ in accordance \\ ith Regu lations 9( I lea) or the Takeover R~gulati()ns .

Page I 01'5

I , I f )' fa' of )ffcr (Triggered offer, voluntary offer/competing offer, etc.): This Oriel' is a mandatory orlCr made b) the Acquirers in terms of Regulations 3( I ) .11111 I ollh' I aJ..\:O\er Regulations pursuant to th\: execution of the Share Purchase Agreement (SPA).

s ("no WIIICJ-I J-IAS TRIGGERED TJ-IE OPEN OFFER OBLIGATIONS (UNDERLYING TRANSACTION).

I lil' ('quir'rs has agreed to acquire from the promoters of the Target Company nam ely Mr. Ashok Mavjibhai Dudhagara and Mrs. Prafulaben Ashokbhai I )lldhlll'ar I ("Sellers"). 1.4 1, 18,680 (One Cron; FOI1) One Lakhs Eighteen Thousand Six Hundred and Eigh ty onl) ) equi ty shares ("Sale Shares") of face value or

IOO() ea'h IIhich constitutes 56.47% or the issued. paid up and subscribed equity share capital or Target C0l1!pany (including 53 ,04,840 Equity Shares lIlll"litutil1 , 2 1.22% of the issued, paid up and subscribed equity share capital of the Target company arc pledged with Lender(s) - State Bank of India (SBI) and ~ I 'i.O()O Equi ty . hares constituting 20.50% or the issued. paid up and subscribed equity share capital of the Target ompany are Lock-In upto March 7, 2021 ). 101 "" a 'gregate cons ideration of'{ 12,70,68,120 (Twelve Crores Seventy Lakhs Sixty Eight Thousand One I lund red and Twenty Only). i.e. '{ 9 (Rupees Nine) P'I I.llllity hare ("Negotiated Price") through a Share Purchase Agreement dated March 17, 2020 ("SPA"). At rresent Acquirers are not holding any Equit) "liar', or the Target Company. Consequent upon acquisit ion of Sale Shares, the Shareholding of the Acquirers II ill be 1,41 ,18,680 (One Crore Forty One Lakh~ I i 'ht 'ell Thousand Six Hundred and Eighty only) equity shares constituting 56.47% of the i sued. paid up and subscribed equity share capital of Targct ('0I11pan). Pursuant to SPA. the Acquirers sha ll hold majori ty of Eq uity Shares by vi rtue of which the) shall he in a position to exercise control over management ,lI1d an~irs of the Target Company. This ofter is mad\: in terms of Regulations 3( I) and 4 of the Tal..eo \ T Regulations. Upon consummation of the transaction 'ol1lemplated in the PA. the Acquirers will also acquire control over the Target Company and the Acquirers shall become the promoters o f the Target om pan) upon com pliance with the provision of regul ation 31 A(5) of the Securities and Exchange Board or India (I.isting Obligation and Disc losure Requirements) Regulations, 20 15. As such, this offer is also being made under regulation 4 orthe Takeover Regu lations.

Type Transaction (Direct/I ndirect)

Direct

DETAILS OF UNDERLYING TRANSACTION of Mode of Transaction

(Agreementl A lIotmen ti M a rket Purchase)

Acquisition of 1,4 1. 1 X.6XO (One Crore Forty One Lakhs Eight\:cn rhousand Six Ilundrcd and Eighl) onl;.) cLJuit) shares ("Sale Shares") of hlc ,: \alue of f IO.OO

I each wh ich con sti t ute~ 56,47% of the issued. paid up and ~uh~eribcd equity share capital of I <Jrgel COlllpany (includi ng 53.04.X40 I :qlli t) Shares constituting 21.22% or Ihe i~~lIed . paid up and subscribed eqllit) ... har.: '<Jpital of' the Target cOJllpan) a 1\: pkd '.:d II ilh Lender(s) - State BanI.. III India ("HI) lIl1d 51.25.000 I':qllil) Sh;rr.:... l' \H, ... tiIlUil1' 20.50"" of the i ...... ul·d p,lId lip <ll1d

1,41.18.680 56.4 7 (One Crore Forty One Lakhs Eighteen Thousand Six Hundred and Eight) onl) ) equity shares

Total Consider'ation for SharesIVRs acquired (t) f 12. 70.6X.1 2() (Til eh C Crol'l;S Sevcnt;. l , aJ..h~

Sixt) right Thousand One Il unJreJ and Tllent) Only). i.e. ~9 (Rupee~ l'\ine) per I :quit) Share ("Negotialcd "ric ' '' )

Mode of payment ( ashl ecu ritie )

Regulation which has triggered

3( 1)&4 01' 1 the TakeO\ er Regulations

~lIIN: rih 'd I.!quil) shan: 'arital 01" thl.! lurgl.:l ('01111"<111) tII·1.! I od-111 lIrlO Man;h 7. _O::! I). l()r Ull aggrl.! '<I II.: 1.!0l1silkration oJ' 12,70.68, I 20 ( I II l.: il l.! ( 'rorcs SI.:\ I.!ll t) Lakhs i ty Eight I hOLisa nd Onl.: Ilundrl.!d and Twenty On I) ), i.l.!. <)

(Rupl.!es Nine) per I::quity Share (OO Negotiated Price") through a Share Purchase Agreement dated March 17, 2020 ("'SPA OO ) entered into betwccn Acquires and Mr. Ashok Mavjibhai Dudhagara and Mrs. Prafulaben Ashokbha i Dudhagara ('Se llers")

) cquircr( )/PAC

J)ctails Acquirer No. I Name 01" ACQuirer(s)/(Mt-s) Mr. Jitendra G. Raiyani Address

Name of persons III

contro l/promoters 01" Acquirers/PAC lI'here AcquirersiPAC are colllp<lnies Name of the Group. iran). to which the Acquirer(s)/I'AC belong Pre Transaction Shan: holding

• Number • % of total share capital

Rad he Shyam, Plot No. 28, Silver Stone-I. Street no. 3, 150 teet Ring Road, Behind Oscar TO\\<lr. Rajkot, Gujarat-360005. Contact No.: +9 I 99798 73993 E-Mail ID:jitendraraiyani968 1@lgmail .com Nil

Nil Nil

! ~

Acquirer No.2 Mr. Rameshkumar .Jivrajbhai Ranipa 30 I, Kri shna Palace. Swastik Society, Opp Essar House, Patel olon) . Jamnagar,Gujarat-36 I 008 Contact No. +9 I 98252 12209 E-MailID:ramesh.ranipa({ilyahoo.co. in Nil

Nil Nil

Total

Nil Nil

Proposed Shareholding <llier the acquisition of shares \\ hich triggered the Open Oller

1,41.18.680 (One Crore Forty One Lakhs Eighteen Thousand Six Hundred and Eighty only) equit: shares ("Sale Shares") of lace value on I 0.00 each whi ch constitutes 56.-+ 7% of the issued. paid up and subscribed equit) share capita l oJ"Target Company (including 53.04.840 Equ it: Shares const ituting 21 .22% 01" the issued. paid up and subscribed equity share capital or the '1 arget cOlllpan) arc pledged II ith Lender(s) - State Bank or India ( 81) and 51.25.000 Equity Shares constituting 20.50% or the issued. paid up and subscribed equity share capital or the Target Compan) are Lock-In upto

An: other interest in thl.: TC March 7. 202 1 ). Nil I Nil

Pag~.) 01'5

I

~) DETAIL OF SE LLING SHAREHOLDERS

I ;'III1C

Share of the

holdcr' Se lling Part of promoter' Details of shar'es/ Voting rights held by the Selling Shareholders

group (Yes/No) Pre Transaction

IV! r. Ashok I )udh, \ 1r~.

Igara Mavjibhai

Pralulaben \/1nJ.. hhai J)udhagara

Total

!' ) Target ompany

Yes

Yes

'i I Name: Ange l Fibers Limited

Number % I, I 4,62,320 45,85

26.56.360 10.63

1,41,18,680 56.47

!,.2 Corporate Identification No.: L I 7200GJ20 I -tPLC07X738 •. J l~cgjs te"ed Office: Shiva lik-2, Shop No.6. Nr. Pushkardham Temple, Uni versi ty Road, Rajkot 360005: . A Contact No.: 7622022349 / 9426785557; !,.5 E-MaillD:in/o((j)angeltibers.com/cs (/ancilibers.col}}: !'.6 Website: www.angelfibers.com

5.7 Exchange where Listed: BSE Li mi ted (SM!: Platlorm): Scrip ID/Code: ANGELl541006; BSE

6) OTHER DETAILS

Post Transaction Number 0/0

Nil Nil

Nil Ni l

Nil Nil

6. I The details of the open olTer would be published in th.: newspapers vide a Detailed Public Statemen! ("DPS" ) on or be lore March 24, 2020 in compliance II ith Regulation I 3( 4) of the Takeover Regulations.

6.2 The Acquirers undertake that they are lull) ,mare or and will comply with hi s obligations; laid dOlln in the Takevoer Regulations. and that they have adequate financial resources to meet their obligations in relation to the Ofter.

6.3 The Ofter is not conditional upon any minimum lei elllr acceptance in terms or Regulation I 9( I ) or the I ake()\ er Regulations and is not a competitive bid in terms of Regulation 20 or the Takeover Reglliations.

6.4 Completion or the Oner and the underlying tr;]ns;]ction. as envisaged under the SPA, is subject to sat islaction or the conditions precedent set out in the SPA and receipt of statutory approvals required, if an) .

6.5 Assuming full acceptance or 65,00,000 lull) paid up elJuity shares of {I 0 each representing 26.00% or equit) share capital/voting capital as or the tenth \\orking day li'om the closure or the tendoring period or the open offer li'om the eligible shareholders or the '1 urget Company by the Acquirers. public shareholding will be reduced to 17.53% in the target compan). As per Regulation 38 orSEBI (LODR) Regulations read ",ith Rule 19A orthe Securities Contract (Regulation) Rules. 1957, as amended ("SCR R "I. the rargd l'ompan) is required to maintain at least 2~"" Public Slwrei1olding. on cominuous basis lur listing. As per sub rule 2 of rule 19A or the Securities Contract (Regulation) Rules, 1957. II here the public shareholding in a listed company lalls belolV tlVenty live per cenl. al any time. such company shall bring the public sharehold ing to twenty five per eent lIithin a ma,il11L1111 period of'tllelve months Irom the date of such lall in the Illanner specilied h) the Securities and F.:-;changc Hoard or India. (1.6 I hi, PA i~ c'pected to be mailable on SEI3I Wehsile i.e. II II lV.sehi"gQvin

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ISS I lEU II, 1,\ AGER TO THE OFFER FOR AND ON BEHALF OF THE ACQUIRERS MR. JlTENDRA G. RAIYANI AND MR. RAMESHKUMARJIVRAJBHAI RANIPA

BEELINE BROKING LIMITED CIN: U51900GJ2014PLC080598 SEBI Reg. No.: INM000012546

!

n cgb tc/'cd Officc Addrcs :-Ollice No. I To 3. Vishwa Comp lex, First Floor. Orr . .lain Derasar, Navrangpura. Ahmedabad- 380 009. Mereh .. "t Ba"killg Di vision: 807, Phoenix Tower. Opp. New Gi rish Co ld Drinks. Near Vijay Cross Road , Nm(arangpura, Ahmedabad -380009

Tel. No.: +9 1 7948405357/6357

Place: Ahmedabad J)at e: March 17, 2020

E-Mail lO: mb@ bcelinemb.com Website: www.beelinebroking.com

Contact Person : Mrs. Khushbu Shah

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