Pre-Offer Public Announcement and Corrigendum: Open Offer for 12,22,000 shares at Rs. 12 per share; tendering opens October 01, 2026

Open Offer update.

Wed 30 Sep 2026

Offer Size

12,22,000 equity shares (26.00% of voting share capital)

Offer Price

₹12/- per equity share, payable in cash

Tendering Period

Opens October 01, 2026 and closes October 15, 2026

Payment Deadline

October 30, 2026

Acquirer

Mr. Uday Narang

What was shared

Fintellectual Corporate Advisors Private Limited, manager to the offer, submitted to BSE the Pre-Offer Public Announcement and Corrigendum to the Detailed Public Statement dated September 29, 2026, published in newspapers on September 30, 2026 (Financial Express - English, Jansatta - Hindi, Mumbai Lakshadeep - Marathi).

The offer

• Acquirer: Mr. Uday Narang.
• Size: up to 12,22,000 fully paid-up equity shares of face value ₹10/- each.
• This represents 26.00% of the voting share capital, from public shareholders.
• Offer Price: ₹12/- per equity share, payable in cash. There has been no revision in the Offer Price.

Recommendation and process

• The Committee of Independent Directors recommended that the Offer Price is fair and reasonable and in line with SEBI (SAST) Regulations, 2011; its recommendation was published on September 28, 2026.
• The Letter of Offer dated September 18, 2026 was mailed on September 24, 2026 by electronic means, with physical copies dispatched to non-email registered shareholders.
• Shareholders holding shares in demat form tender through their Selling Brokers; physical holders participate through their Selling Broker with Form SH-4.
• The Draft Letter of Offer was submitted to SEBI on August 19, 2026; SEBI observations received September 15, 2026 have been incorporated.
• There has been no competing offer under Regulation 20.

Revised schedule

• Tendering period opens October 01, 2026 (earlier September 29, 2026).
• Tendering period closes October 15, 2026 (earlier October 13, 2026).
• Payment of consideration to be completed by October 30, 2026 (earlier October 28, 2026).

What it means for a shareholder

Public shareholders may choose to tender their shares in the open offer at ₹12/- per share during the tendering window, or continue to hold. Since the offer is for up to 26.00% of voting share capital, acceptance may be proportionate if tenders exceed the offer size. No statutory approvals were required by the acquirer as on the date of this announcement. All other terms of the offer and the Letter of Offer remain unchanged.

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