Open offer for up to 26,46,487 shares (26.00%) at INR 35 per share
Open offer to public shareholders.
By ScoutQuest · · 2 min read
- Offer Size
- Up to 26,46,487 equity shares, or 26.00% of the expanded share capital
- Offer Price
- INR 35/- per share
- Value if fully accepted
- INR 9,26,27,045/-
An open offer is being made to the public shareholders of Comrade Appliances Limited, a company listed on the BSE SME Platform, by four acquirers acting together: Omnia Appliances Private Limited (Acquirer 1), Graphic Promoters and Developers Private Limited (Acquirer 2), Amaira Estate Advisors LLP (Acquirer 3) and MLJ Aeternum LLP (Acquirer 4). The offer is made through Corporate Professionals Capital Private Limited as Manager to the Offer.
Offer at a glance
- Up to 26,46,487 equity shares, representing 26.00% of the expanded share capital of the Target Company
- Offer price of INR 35/- per equity share, payable in cash
- Assuming full acceptance, the total consideration payable under the offer is INR 9,26,27,045/-
- It is a triggered/mandatory offer made under Regulation 3(1) and Regulation 4 of the SEBI (SAST) Regulations
What triggered the offer
Two transactions taken together took the acquirers past the threshold that requires an open offer.
- Share Purchase Agreement dated October 13, 2026, under which the acquirers will acquire 18,90,000 equity shares, being 24.30% of the pre-issue share capital, from Mr. Mehboob Alam, a current member of the promoter and promoter group of the Target Company, at an agreed price of INR 34/- per equity share.
- A preferential issue of 24,00,000 equity shares at an issue price of INR 34/- each, approved by the Board of Directors of the Target Company on October 13, 2026, subject to the approval of the members and other regulatory approvals. These shares are proposed to be allotted to Acquirer 1 and to a public category investor.
Who is buying
The acquirers are Omnia Appliances Private Limited, Graphic Promoters and Developers Private Limited, Amaira Estate Advisors LLP and MLJ Aeternum LLP. Each of them held no shares in the Target Company before the transaction, none belongs to a group, and none has any other interest in the Target Company.
After the offer
Upon completion of the open offer, the acquirers will acquire and exercise joint control of and over the Target Company and become a joint promoter along with the Seller and the other existing promoters of the Target Company.
What public shareholders should note
- The offer is not conditional on any minimum level of acceptance, and it is not a competitive bid.
- The Detailed Public Statement, which carries the detailed information on the offer, is to be published on or before October 21, 2026.
- The acquirers state that they have adequate resources and have made firm financial arrangements for financing the acquisition of the equity shares under the offer.
Also from Comrade Appliances
Open offer for up to 26,46,487 shares at INR 35.00 each, 26.00% of expanded capital
21 Oct 2026
Promoter to sell 18,90,000 shares, 24.30% stake, for Rs. 6.43 crore under share purchase agreement
14 Oct 2026
Promoter enters share purchase agreement to sell 24.30% stake; acquirers to be classified as promoter
14 Oct 2026
More numbers
- Open offer size26,46,487
- Open offer size as % of expanded share capital26.00%
- Open offer price per equity shareINR 35/-
- Total consideration assuming full acceptanceINR 9,26,27,045/-
- Shares under the Share Purchase Agreement18,90,000
- SPA shares as % of pre-issue share capital24.30 %
- Price per share under SPA and preferential issueINR 34/-
- Preferential issue size24,00,000
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