Letter of Offer for the open offer is attached
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Anka India Ltd has filed the Letter of Offer for a mandatory open offer by Mr. Amit Sharma and Mr. Arjit Sachdeva (collectively, the Acquirers) to acquire up to 69,24,902 equity shares (13.44% of existing equity) at Rs. 17 per share, totaling approximately Rs. 11.77 crore. The open offer is triggered under SEBI (SAST) Regulations following a preferential allotment of 3,61,54,529 shares (70.15% of equity) to the Acquirers in exchange for 100% acquisition of Futech Internet Private Limited (an Ad-Tech solutions provider). Post the preferential issue, Acquirers collectively hold 70.15% of Anka India. The tendering period runs from October 14, 2025 to October 29, 2025. After completion, promoter holding will temporarily rise to 86.56%, breaching the 25% minimum public shareholding threshold, and the Acquirers plan to restore compliance via secondary market sales or offer for sale.
This represents a change of control at Anka India Ltd, with new promoters taking over after a share-swap transaction with Futech Internet Private Limited. Existing public shareholders can tender their shares at Rs. 17 per share in cash or hold for potential re-rating as the new management plans to introduce a new line of business.