CapitalSquare Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of P.M. Telelinnks Ltd ("Target Company").
Awaiting price reaction for this filing.
BSL Infrastructure Limited (Acquirer) has triggered a mandatory open offer for P.M. Telelinnks Limited to buy up to 26,19,500 equity shares (26% of voting share capital) from public shareholders at ₹6.81 per share, with a maximum total consideration of ₹1,78,38,795. This follows a Share Purchase Agreement signed on September 5, 2025, under which BSL will acquire 48,38,733 shares (48.03% of voting capital) from promoter sellers at ₹6.20 per share, aggregating to ₹3,00,00,145. The promoter sellers include Dipin Surana, Ravi Pukhraj Surana, and other promoter group entities, and the transaction will result in a change of control with promoters being reclassified to the public category. The Draft Letter of Offer has been filed with SEBI, and the tendering period is scheduled from October 31 to November 14, 2025.
Public shareholders of P.M. Telelinnks can tender their shares during the open offer window and receive ₹6.81 per share in cash. Shareholders should weigh this exit price against the stock's market price and the company's prospects under new ownership before deciding to tender.