Corrigendum to open offer: price revised upward to Rs 2.26 per share for up to 9,92,12,282 shares

Corrigendum to the open offer for Kapil Raj Finance Ltd. The offer price has been revised upward from Rs 2.24 to Rs 2.26 per equity share.

Thu 8 Oct 2026

Revised Offer Price

revised upward from Rs 2.24 to Rs 2.26 per equity share

Offer Size

up to 9,92,12,282 shares (66.10% of the expanded voting equity share capital)

Revised Total Consideration

Rs 224,23,67,758

What has been shared

Novus Capital Advisors Private Limited, the Manager to the Open Offer, has submitted to the exchanges a corrigendum to the Public Announcement, the Detailed Public Statement and the Draft Letter of Offer relating to an open offer. The corrigendum was published in newspapers on October 08, 2026.

The open offer at a glance

• The offer is for up to 9,92,12,282 fully paid-up equity shares of face value Rs 10 each of Kapil Raj Finance Limited.
• This works out to 66.10% of the total expanded voting equity share capital of the company on a fully diluted basis.
• These shares are to be acquired from the public shareholders of the company.
• Acquirers: Mr. Arpit Agarwal (Acquirer-1), Ms. Megha Agarwal (Acquirer-2) and M/s Arpit Agarwal HUF (Acquirer-3), collectively the Acquirers.
• Payment to shareholders is in cash.

What the corrigendum changes

• The offer price has been revised upward, from Rs 2.24 to Rs 2.26 per equity share.
• Consequent to the price revision, the total consideration payable in cash stands revised to Rs 224,23,67,758.
• The escrow account arrangement for the offer has also been revised.
• Public shareholders of the company are asked to take note of the corrigendum, which should be read in continuation of, and in conjunction with, the Public Announcement, the Detailed Public Statement and the Draft Letter of Offer.

How an open offer works, in simple terms

An open offer is a formal exit window that an acquirer must give to public shareholders when it is buying a large stake in a listed company. Every public shareholder can decide, individually, whether to offer their shares in the offer.

What stands out for a retail shareholder

• The price at which shares are proposed to be acquired has moved up from Rs 2.24 to Rs 2.26 per equity share.
• The number of shares sought stays at up to 9,92,12,282, and so does the stated 66.10% share of the expanded voting equity share capital on a fully diluted basis.
• The Acquirers have to fund the revised consideration in cash, and the corrigendum states that the escrow arrangement has been revised accordingly.

In short

The corrigendum updates the terms of the open offer, mainly the offer price and the related cash consideration, and the Acquirers are to acquire the shares from public shareholders as per the revised terms read with the Public Announcement, the Detailed Public Statement and the Draft Letter of Offer.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.