Open offer for up to 26.00% stake at ₹30 per share after promoter agrees to sell 46.06%
Open offer for up to 7,94,170 equity shares, or 26.00% of the voting share capital, at ₹30 per share.
By ScoutQuest · · 2 min read
- Offer Size and Price
- up to 7,94,170 equity shares (26.00% of voting share capital) at ₹30 per share
- Acquirer Share Purchase
- 14,07,000 shares (46.06%) from promoter seller at ₹30 each — ~₹4.22 crore
- Max Offer Consideration
- ₹2,38,25,100/- on full acceptance
The offer at a glance
- Acquirers: Mr. Pankaj Grover (Acquirer 1) and Mr. Abhisek Gupta (Acquirer 2).
- Offer size: up to 7,94,170 fully paid-up equity shares of face value ₹10/- each.
- That equals 26.00% of the voting share capital of the target company.
- Offer price: ₹30/- per share, payable in cash.
- If every offer share is accepted, the total consideration paid to public shareholders works out to ₹2,38,25,100/-.
What triggered the offer
A Share Purchase Agreement dated October 19, 2026 has been executed between the Acquirers and the promoter seller, Mr. Yogesh Agrawal. Under that agreement, the Acquirers have agreed to acquire 14,07,000 equity shares, representing 46.06% of the voting share capital, from him at a negotiated price of ₹30/- per share, aggregating ~₹4.22 crore. Because this transaction triggers the open offer requirement under the SEBI (SAST) Regulations, the Acquirers must make this triggered mandatory open offer for a further 26.00% from public shareholders. The offer price of ₹30/- per share is the same as the negotiated price paid to the promoter seller.
Shareholding before and after
- Acquirers' holding before the transaction: Nil for each, and Nil together.
- After the share purchase: Acquirer 1 holds 9,07,000 shares (29.69%) and Acquirer 2 holds 5,00,000 shares (16.37%), together 14,07,000 shares (46.06%).
- Promoter seller Mr. Yogesh Agrawal held 14,07,000 shares (46.06%) before the transaction and Nil after it.
Points for retail shareholders to note
- This is a triggered mandatory open offer arising from the Share Purchase Agreement, made in compliance with Regulations 3(1) and 4 of the SEBI (SAST) Regulations.
- The offer is not conditional on any minimum level of acceptance, so it does not depend on a minimum number of shares being tendered.
- Payment for accepted shares is entirely in cash.
- Completion of the offer and of the underlying transaction is subject to certain conditions precedent set out in the Share Purchase Agreement, and the underlying transaction may be completed before the offer is completed.
- The Detailed Public Statement is to be published in newspapers on or before October 27, 2026, and will carry the detailed offer information, the price details, statutory approvals required and the financial arrangements for the offer.
- The Acquirers have stated they have adequate financial resources to meet their obligations under the offer.
Also from Genomic Valley Biotech
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Promoter to sell 46.06% stake to two acquirers; open offer triggered
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More numbers
- Offer price per share₹30/-
- Offer size in shares7,94,170
- Offer size as % of voting share capital26.00%
- Shares agreed to be acquired from promoter seller14,07,000
- That stake as % of voting share capital46.06%
- Consideration for promoter seller's shares₹4,22,10,000/-
- Aggregate offer consideration on full acceptance₹2,38,25,100/-
- Face value per equity share₹10/-
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