Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeover, Buy Back and De-listing vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020, 20201102-43 dated 02 Nov 2020, 20210825-62 dated Aug 25,2021 has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.

All Market Participants are hereby informed that an Open Offer (“Offer”) is made by Mr. Prafulchandra Vitthalbhai Patel, (Acquirer No. 1), Mr. Jashvantbhai Shankarlal Patel, (Acquirer No. 2) and Mr. Hiren Jashvantbhai Patel, (Acquirer No. 3) (hereinafter referred to as the “Acquirers”) to the existing public shareholders of Aryavan Enterprise Limited Formerly Known as Deepti Alloy Steel Limited) (“Target Company”) to acquire up to 10,01,104 (Ten Lakhs One Thousand One Hundred & Four) fully paid equity shares of face value of Rs. 10/- (Rupees Ten Only) each (“Offer Shares”) representing in aggregate 26.00% (Twenty-Six Percent) of the total issued, fully paid-up equity share capital and voting capital, at a price of Rs. 7.50/ (Rupees Seven Point Fifty Paisa Only) per equity share (“Offer Price”), payable in cash, pursuant to Regulations 3(1) & 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereof (the “SEBI (SAST) Regulations, 2011” or “SEBI (SAST) Regulations” or “the Regulations”), from April 21, 2023 to May 08, 2023  (excluding May 01, 2023 and May 05, 2023 due to SEBI Holiday).

Letter of Offer is herewith attached for your perusal.

Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.

Mangesh Tayde

Assistant General Manager

Listing Sales & Ops

April 18, 2023