Open offer at Rs. 10.05 per share withdrawn; exit for public shareholders will not go ahead
Withdrawal of Open Offer: Saffron Capital Advisors, manager to the offer, has told BSE that the open offer for public shareholders of Brijlaxmi Leasing & Finance Ltd — up to 64,99,889 shares at Rs. 10.05 each (up to Rs. 6.53 crore).
- Offer Price
- Rs. 10.05 per equity share
- Offer Size
- up to 64,99,889 equity shares of face value Rs. 10/- each
- Maximum Aggregate Amount
- up to Rs. 6.53 crore
Saffron Capital Advisors Pvt. Ltd., the manager to the open offer, has informed BSE that the open offer to the public shareholders of Brijlaxmi Leasing & Finance Ltd is being withdrawn. The withdrawal announcement is dated October 10, 2026 and was published in newspapers on October 12, 2026, under Regulation 23(2)(a) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The offer that is being withdrawn
- It was made by four acquirers: Jaykishor Chaitanyakishor Chaturvedi, Siddharth Jaykishor Chaturvedi, Ankur J Chaturvedi and Brijlaxmi Infotech Limited.
- It was for up to 64,99,889 equity shares of face value Rs. 10/- each of the target company.
- Offer price: ₹ 10.05 per equity share.
- Maximum aggregate amount payable: up to ₹ 6.53 crore.
Why the offer is being withdrawn
- The announcement refers to a Loan Agreement dated July 31, 2015 between the acquirers and the target company, under which convertible warrants were issued and the acquirers were vested with an option to acquire equity shares of the target company.
- It states that the Reserve Bank of India, Aizawl, in its response letter dated October 8, 2026, stated that the change in shareholding cannot be accorded.
- In terms of Regulation 23(2) of the SEBI (SAST) Regulations, 2011, the open offer is being withdrawn.
Shareholding shown in the announcement
- The acquirers' combined pre-transaction shareholding is shown as 7,73,830 shares, or 11.97%.
What it means for public shareholders
- The offer would have given public shareholders an exit at ₹ 10.05 per share; with the withdrawal, that acquisition of shares from public shareholders will not take place.
- Shareholders who were tracking this offer should note that the shares will not be bought under this open offer.
The update is the newspaper publication of the withdrawal notice, sent to the exchange by the manager to the offer.
More numbers
- Equity shares to be acquired in the Open Offer64,99,889
- Face value per equity shareRs. 10/-
- Open Offer price per equity share₹ 10.05/-
- Maximum aggregate Open Offer amount₹ 6,53,23,884.45/-
- Acquirers' total pre-transaction shareholding7,73,830
- Acquirers' total pre-transaction shareholding (%)11.97%
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