Open Offer Public Announcement: Arambhveer Ltd to acquire 26% at ₹ 60.13 per share, change in control

Open Offer announced under SEBI Takeover rules.

Thu 24 Sep 2026

Acquirer

Arambhveer Limited (with 3 PACs)

Shares Acquired from Promoter

21,85,430 shares (26.05%) at ₹ 30.00 per share

Open Offer Price

₹ 60.13 per share for up to 21,81,121 shares (26.00%)

Total Open Offer Value

₹ 13,11,50,806/-

Tendering Period

10 Working Days

What was announced

The Manager to the Offer, Wealth Mine Networks Limited, has shared a Public Announcement for an Open Offer under SEBI (SAST) Regulations, 2011, on behalf of the acquirer Arambhveer Limited.

The underlying transaction

• A Share Purchase Agreement dated September 24, 2026 was executed under which the acquirer has agreed to acquire 21,85,430 equity shares, constituting 26.05% of the Voting Share Capital.
• Price under the SPA: ₹ 30.00 per Equity Share, total consideration ₹ 6,55,62,900/-, payable in cash.
• Seller: Mr. Sandeep Gupta, part of the promoter group, holding 21,85,430 shares (26.05%) before the transaction and nil after.
• On completion, the acquirer will acquire control and be identified as part of Promoter and Promoter Group; the seller will relinquish control and be declassified.

The Open Offer to public shareholders

• Size: up to 21,81,121 fully paid-up equity shares of face value ₹ 10 each, representing 26.00% of Voting Share Capital.
• Offer Price: ₹ 60.13 per Equity Share, in cash, determined under Regulations 8(1) and 8(2).
• Total consideration assuming full acceptance: ₹ 13,11,50,806/-.
• The shares are stated to be frequently traded in terms of the SAST Regulations.
• The Tendering Period will be 10 Working Days, to be disclosed in the Letter of Offer.

Shareholding maths

• Acquirer's pre-transaction holding: Nil. The three PACs together hold 14,795 shares (0.18%).
• If the entire 26.00% is tendered: acquirer and PACs would hold 43,81,346 shares, or 52.23%.
• If nothing is tendered: acquirer and PACs would hold 22,00,225 shares, or 26.23%.

Other terms stated

• The acquirer has no intention of delisting the shares pursuant to this Open Offer.
• The Offer is not conditional upon any minimum level of acceptance, and is not a competing offer.
• The acquirer has confirmed adequate financial resources and firm financial arrangements under Regulation 25(1).
• If public shareholding falls below the minimum required level, the acquirer undertakes to bring non-public shareholding down to 75%.
• A Detailed Public Statement is to be published in newspapers on or before Thursday, October 01, 2026, carrying fuller details of price, approvals and financial arrangements.

What it means for a shareholder

This is a change-of-control transaction. Public shareholders will have the option, during the tendering period, to sell up to 26.00% of voting capital worth of shares at ₹ 60.13 each. Note the difference between the SPA price of ₹ 30.00 paid to the outgoing promoter and the Offer Price of ₹ 60.13 for public shareholders. Further terms will follow in the Detailed Public Statement and Letter of Offer.

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