Bonaza Portfolio Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Harmony Capital Service Ltd ("Target Company").
Awaiting price reaction for this filing.
Harmony Capital Services Ltd has received the Draft Letter of Offer from Bonanza Portfolio Ltd (Manager to the Offer) for a mandatory open offer by Mr. Rajesh Ghosh and Dorni Vinimoy Private Limited (the Acquirers) under SEBI Takeover Regulations. The offer is for up to 31,52,994 equity shares (26% of emerging voting share capital) at ₹10 per share, with a maximum consideration of about ₹3.15 crore. The open offer was triggered after the Acquirers signed a Share Subscription Agreement on November 20, 2025 for a preferential allotment of 55 lakh shares (45.35% stake) at ₹10 each, totalling ₹5.5 crore. Existing promoter Mr. Anish Sharma has already exited the company, leading to a change in management control. The tendering period is scheduled from January 13, 2026 to January 27, 2026.
This signals a change of control at Harmony Capital Services with new promoters taking over at face value. Public shareholders will have an opportunity to tender shares at ₹10 each, though the offer price is at face value with no premium, suggesting limited upside for sellers. The stock may see volatility around the open offer window.