Technojet Consultants509917Open offer announcement

Draft Letter of Offer shared for open offer at Rs. 48 per share with change in control

An open offer has been shared for the company.

Wed 30 Sep 2026

4,71,293 (67.33%)Acquirer holding transaction

Acquirer in preferential issue3,25,000 Equity Shares

Sale Shares under SPA1,46,293 equity shares

Acquirer holding transaction 4,71,293 (67.33%): Acquirer in preferential issue 3,25,000 Equity Shares, Sale Shares under SPA 1,46,293 equity shares.

Acquirer: Mr. Nimesh Sahadeo Singh
Offer Price: Rs. 48/- per share
Shares Offered: up to 1,82,000 shares = 26.00% of emerging capital
Offer Period: Opens 09 Nov 2026, closes 23 Nov 2026
Post-transaction Holding: 4,71,293 shares (67.33% of emerging capital)

What was shared

Navigant Corporate Advisors, the Manager to the Offer, submitted a copy of the Draft Letter of Offer dated 29th September, 2026 to BSE; it has also been shared with SEBI. This relates to a mandatory open offer under Regulations 3(1) and 4 of the SEBI (SAST) Regulations, 2011, made along with a change in control.

Offer terms

Acquirer: Mr. Nimesh Sahadeo Singh, an Indian resident individual. There are no persons acting in concert.
Shares sought: up to 1,82,000 equity shares of Rs. 10/- each.
That equals 26.00% of the emerging equity and voting share capital.
Offer price: Rs. 48/- per share, in cash.
The offer is not conditional on any minimum acceptance and is not a competing offer.

What triggered it

Two linked steps form the underlying transactions

A Share Purchase Agreement dated 18th September, 2026 to acquire 1,46,293 shares, being 20.90% of emerging capital, from the existing promoter and promoter group (Ness Nusli Wadia, Nowrosjee Wadia and Sons, Goodeed Charitable Foundation, Varnilam Investments and Trading, Naperol Investments and MSIL Investments) for a total consideration of Rs. 70,22,064 at Rs. 48/- per share. The sellers would hold nil after the transaction.
A preferential allotment authorised by the Board on 18th September, 2026 of 5,00,000 shares representing 71.43% of emerging capital: 3,25,000 shares to the acquirer (46.43% of emerging capital) and 1,75,000 shares to public category investors, both at Rs. 48/- per share including a premium of Rs. 38/- per share. Member approval is being sought at an EOGM on October 30, 2026.

Capital picture

Existing paid-up capital: Rs. 20,00,000 divided into 2,00,000 shares of Rs. 10/- each.
Emerging capital after the preferential allotment: 7,00,000 shares.
Acquirer's holding pre-transaction: nil (0.00%). Proposed holding after the triggering acquisitions: 4,71,293 shares, or 67.33% of emerging capital.
The negotiated price of Rs. 48/- per share is the highest of the SPA price and the preferential issue price.

Key dates

Public Announcement: 18.09.2026; Detailed Public Statement published 22.09.2026.
Identified Date: 26th October, 2026 (only to decide who is sent the Letter of Offer).
Last date for revising the offer price: 05.11.2026.
Offer opens Monday, 09th November, 2026 and closes Monday, 23rd November, 2026.
Payment of consideration: 08.12.2026.

Points shareholders should note

Update with SEBI does not mean SEBI has cleared, vetted or approved the document; SEBI comments on the draft are expected by 22.10.2026.
If the offer is oversubscribed, acceptance is on a proportionate basis, so not all tendered shares may be accepted.
Once tendered, shares are held in trust and cannot be traded or withdrawn during that period.
Shares already pledged by a shareholder cannot be tendered. As on the date of the draft, none of the promoter and promoter group shares are under pledge.
Locked-in shares may be tendered, with the residual lock-in continuing in the acquirer's hands.
All shareholders other than the acquirer, sellers and promoter group are eligible to participate.
In case of delay due to non-receipt of statutory approvals, interest at ten per cent per annum may be payable to shareholders whose shares are accepted, subject to SEBI.

Registrar to the Offer is KFin Technologies Limited; the buying broker is Allwin Securities Limited.

More numbers

Shares sought in open offer1,82,000 Equity shares
Open offer size as % of emerging capital26.00%
Offer price per shareRs. 48/-
Face value per shareRs. 10/-
Sale Shares under SPA1,46,293 equity shares
Sale Shares as % of emerging capital20.90%
SPA total considerationRs. 70,22,064
Preferential allotment shares5,00,000 fully paid- up Equity Shares
Preferential allotment as % of emerging capital71.43%
Shares to acquirer in preferential issue3,25,000 Equity Shares
Premium per share in preferential issueRs. 38/-
Acquirer holding post transaction4,71,293 (67.33%)

Source: BSE · 30 Sep 2026

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