Bhushan Energy Limited has announced that Bhushan Energy Limited along with Mr Brij Bhushan Singal, Mr Neeraj Singal, BNS Steel Trading Pvt Limited, BBN Transportation Pvt Limited, BNR Infotech Pvt Limited, BNR Consultancy Services Pvt Limited and Bhushan Steel Limited have issued a public announcement dated February 27th 2009 and published on February 28th 2009, to the shareholders of Orissa Sponge Iron & Steel Limited in compliance with Regulations 10 & 12 of Chapter III of the Securities and Exchange Board of India Regulations 1997 and any subsequent amendment thereto to acquire on a voluntary basis up to 6,100,000 fully paid up equity shares of INR 10 each of OSIL, representing 20% of the Diluted Capital of OSIL at a price of INR 330 per equity share of INR 10 each of OSIL, payable in cash.
On June 2nd 2009, BEL has acquired 37,025 equity shares of INR 10 each of OSIL, constituting 0.14% of the current issued and paid up share capital of INR 27,00,00,000 of OSIL at a price of INR 348.01 per equity share by way of open market purchase.
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