Bonanza Portfolio Ltd ("Manager to the Offer") has submitted to BSE a copy of Pre-Offer Advertisement and Corrigendum to the Detailed Public Statement in accordance wtih the Regulation ....
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Skybridge Interactive LLP has launched an open offer to acquire up to 1,32,92,000 equity shares (25.32%) of Baba Arts Ltd from public shareholders at a price of Rs. 6.00 per share. The offer size is capped at 25.32% because that represents the total public shareholding, even though SEBI's minimum requirement is 26%. Bonanza Portfolio Ltd, acting as the Manager to the Offer, has submitted the Pre-Offer Advertisement and a corrigendum to the Detailed Public Statement to BSE, published in Financial Express, Jansatta, and Mumbai Lakshadeep. This is a regulatory filing under SEBI (SAST) Regulations, 2011.
Public shareholders of Baba Arts Ltd can tender their shares at Rs. 6.00 per share under this open offer. The low offer price (Rs. 6) suggests this is likely a small-cap, thinly-traded stock and shareholders should evaluate whether the offer price is attractive compared to prevailing market price before deciding to tender.