Kuber Udyog539408Open offer announcement

Open offer for 26.00% stake at ₹23.35 per share; tendering opens October 28, 2026

Open offer for up to ~3.2 crore shares of Kuber Udyog at ₹23.35 each, 26.00% of expanded voting capital.

By ScoutQuest · Tue 27 Oct 2026, 11:53 AM IST · 3 min read

26%Share of expanded voting share capital

Share of expanded voting share capital: 26.00%.

Offer Price: ₹23.35 per equity share, in cash
Offer Size: up to ~3.2 crore equity shares, or 26.00% of the expanded voting share capital
Tendering Period: October 28, 2026 to November 11, 2026

What the offer is

The acquirers are Mr. Manav Bahri, Mr. Dinesh Popli and Mr. Ajay Dutta, acting together with persons acting in concert — Trimudra Trade & Holdings Private Limited and Ms. Shraddha Gohil. They have made an open offer to acquire up to ~3.2 crore fully paid-up equity shares of Kuber Udyog Limited, each with a face value of ₹10, at a price of ₹23.35 per equity share. The shares on offer represent 26.00% of the expanded voting share capital of the target company. The offer price is payable in cash. The acquirers have stated there has been no upward revision of the offer price or the offer size.

Key terms at a glance

Offer price: ₹23.35 per equity share, in cash
Offer size: up to ~3.2 crore equity shares, or 26.00% of the expanded voting share capital
Face value of each share: ₹10
Committee of Independent Directors: has recommended that the offer price is fair and reasonable
Competing offer: none; this offer is not a competing offer

Why shareholders may care

An open offer like this gives public shareholders a formal window to sell their shares to the acquirers at a fixed stated price, instead of selling in the normal market. The letter of offer and the acceptance form have been sent to eligible public shareholders who were on the register of members on the identified date of October 13, 2026. The documents are also available on the SEBI website.

Timeline to note

Tendering period opens: Wednesday, October 28, 2026
Tendering period closes: Wednesday, November 11, 2026
Acceptance date of bids/shares: Monday, November 16, 2026
Settlement date of bids/shares: Tuesday, November 17, 2026
Last date for communicating acceptance or rejection and completing payment or refund: Thursday, November 26, 2026

These dates are a revision of the earlier schedule, which had the tendering period from October 1, 2026 to October 15, 2026.

How to tender

Shares held in dematerialised form: a shareholder can tender through his or her selling broker, who places the bid on the BSE acquisition window. Before placing the bid, a lien is required to be marked on the tendered shares. Bids must be placed before market hours close on the last day of the tendering period. The buying broker to the offer is Prabhudas Lilladher Pvt. Ltd.
Shares held in physical form: a written application on plain paper with details of the shares, the original share certificates, PAN copy and an executed share transfer form must reach the registrar not later than two working days from the closure of the offer, that is November 13, 2026, by 5.00 p.m. Documents go to the collection centre, Satellite Corporate Services Pvt. Ltd., Mumbai.

Other points stated

The target company has applied for voluntary surrender of its NBFC Certificate of Registration, and that application is pending approval with the RBI.
Apart from that, no other statutory or other approvals are required by the acquirers and persons acting in concert to acquire validly tendered shares.
SEBI's final observations on the draft letter of offer were issued on October 9, 2026, and have been incorporated in the letter of offer.

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