Public Announcement for Open Offer of 26.00% at Rs.72 per Share, Triggered by a Share Purchase Agreement

Hiliks Technologies has received a copy of a Public Announcement for an Open Offer to its public shareholders.

Tue 6 Oct 2026

Offer Size

36,92,000 equity shares, being 26.00% of the expanded equity and voting share capital

Offer Price

Rs.72 per equity share, payable in cash

Total Consideration (full acceptance)

Rs. 26,58,24,000

What has been announced

Hiliks Technologies Limited has informed the stock exchanges that it has received a copy of a Public Announcement dated October 05, 2026 made by Navigant Corporate Advisors Limited, Manager to the Offer, on behalf of Enact Technologies Private Limited (Acquirer-1), Mr. Penumatsa Venkata Raju (Acquirer-2) and Mr. Boyapati Venkata Lakshmi Narasimha Swamy (Acquirer-3), along with persons acting in concert Kalidindi Harshitha (PAC-1), Kalidindi Hemanth Varma (PAC-2) and Kalidindi Sunitha (PAC-3).

The Open Offer in numbers

• Offer size: 36,92,000 fully paid-up equity shares, being 26.00% of the expanded equity and voting share capital of the company.
• Offer price: Rs.72 per equity share.
• Mode of payment: the entire consideration is to be paid in cash.
• Total consideration payable by the acquirers assuming full acceptance of the offer: Rs. 26,58,24,000.

The transaction that triggered the offer

• The acquirers have entered into a Share Purchase Agreement dated October 05, 2026 with Extros Developers Private Limited (formerly known as Pacheli Developers Private Limited), referred to as the seller.
• Under that agreement, the acquirers have agreed to acquire 5,00,000 equity shares, constituting 3.52% of the expanded equity and voting share capital, for a total consideration of Rs. 3,60,00,000, at Rs. 72 per equity share.
• Following this transaction, the acquirers and the PACs would hold 25.59% of the expanded equity and voting share capital, and the acquirers shall acquire control of the company. This change of control is what triggers the Open Offer.

What it means for public shareholders

• "Public shareholders" means all equity shareholders of the company other than the acquirers, the PACs, the seller and parties to the Share Purchase Agreement, and persons deemed to be acting in concert with any of them.
• The Open Offer is made to these public shareholders, and the announcement states that the entire consideration will be paid in cash.
• The announcement describes the offer as a triggered offer, states that it is not a competing offer, and states that it is not conditional upon any minimum level of acceptance.

What happens next

• The Detailed Public Statement is to be published in newspapers on or before October 12, 2026.
• The acquirers and the PACs state that they have adequate financial resources to meet the offer obligations.

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