Detailed Public Statement: Open Offer at Rs. 10 per share for 18,53,096 shares after change in control

Open Offer DPS out.

Wed 30 Sep 2026

Offer Price

₹10.00 per equity share

Shares Offered

18,53,096 shares (3.63% of emerging capital)

Total Offer Consideration

₹1,85,30,960

Acquirer Shareholding Post-Offer

74.11% on diluted basis

Tendering Period

November 18 – December 2, 2026

What was shared

Bonanza Portfolio Limited, Manager to the Offer, submitted the Detailed Public Statement (DPS) for a mandatory Open Offer to the public shareholders of Oscar Global Limited, following the Public Announcement dated September 23, 2026.

Who is acquiring

The Acquirer is JBCG Advisory Services Private Limited, with Mr. Chandir Gobind Gidwani (PAC 1) and Mr. Jaspal Singh Bindra (PAC 2) as persons acting in concert. The update states the Acquirer and PACs are associated with Centrum Group and hold no shares in the company as on the DPS date.

The Open Offer

• Offer size: up to 18,53,096 equity shares of face value ₹10.00 each.
• That is 3.63% of the Emerging Equity and Voting Share Capital.
• Offer price: ₹10.00 per equity share, payable in cash.
• Maximum consideration: ₹1,85,30,960, fully deposited in the escrow account (100% of offer consideration).

The update notes that although Regulation 7(1) requires a minimum 26.00% offer, the eligible public shareholding is only 3.63%, so the offer covers all of it. No proportionate acceptance is envisaged.

The underlying transactions

• Share Purchase Agreement: the Acquirer has agreed to acquire 14,46,904 shares from promoters Mr. Gopal Bhatter and Gopal Bhatter HUF, being 43.85% of existing capital, at ₹10.00 per share, aggregating ₹1,44,69,040.
• Proposed preferential issue of 4,77,16,400 shares at ₹10.00 each, aggregating ₹47,71,64,000, approved by the Board on September 23, 2026 and subject to shareholder and other approvals.
• Of these, 3,45,10,000 shares go to the Acquirer as a 1:1 share swap for 100% of Calculus Travel Ventures Private Limited (value ₹34,51,00,000), making Calculus a subsidiary.
• The balance 1,32,06,400 shares are to be issued for cash of ₹13,20,64,000 to investors in the public category.

Resulting shareholding

After the SPA and SSSA, the Acquirer would hold 3,59,56,904 shares, or 70.48% of the emerging capital, and acquire control. Assuming full acceptance of the Open Offer, post-offer holding on a diluted basis would be 3,78,10,000 shares, or 74.11%. The existing promoters would hold nil and seek reclassification to the public category.

About the target

The company states it has not generated revenue from operations in the recent financial period and is not carrying on significant business operations. Total income was 3.94 lakh for the quarter ended June 30, 2026 and 14.43 lakh for FY ended March 31, 2026, with a loss after tax of (1.44) lakh and (11.16) lakh respectively. Net worth was 287.04 lakh as at March 31, 2026. The shares trade only on BSE, are infrequently traded (annualised turnover 3.84% of listed shares), and are under Stage IV of the Graded Surveillance Measure framework.

Acquirer financials

The Acquirer's networth as on June 30, 2026 is stated as -18,045.36 Lakh. PAC 1's networth is ₹468.40 Crore and PAC 2's is ₹139.00 Crore. The offer consideration is to be funded from internal resources, with no borrowing envisaged.

Key dates

• Tendering period opens: Wednesday, November 18, 2026.
• Tendering period closes: Wednesday, December 02, 2026.
• Payment or return of shares: Wednesday, December 16, 2026.

The Acquirer and PACs intend to retain the BSE listing and no delisting offer is proposed. Independent directors must publish a reasoned recommendation before tendering opens. Shares once tendered cannot be withdrawn.

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