CapitalSquare Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of P.M. Telelinnks Ltd ("Target Company").
Awaiting price reaction for this filing.
BSL Infrastructure Limited has submitted the Letter of Offer to BSE for an open offer to acquire up to 26,19,500 equity shares (26% of voting capital) of P.M. Telelinnks Ltd from public shareholders at ₹6.81 per share, with maximum total consideration of about ₹1.78 crore. This follows a Share Purchase Agreement signed on September 5, 2025, under which BSL Infrastructure agreed to buy 48,38,733 shares (48.03% of voting capital) from the existing promoters at ₹6.20 per share, aggregating roughly ₹3 crore. The open offer is a mandatory requirement under SEBI's takeover regulations triggered by the promoter stake sale. The tendering period is expected to run from January 9, 2026 to January 22, 2026. There is also a pending legal heirship issue for transmission of certain promoter shares which may delay the underlying transaction.
Public shareholders of P.M. Telelinnks now have a defined window to tender their shares at ₹6.81 in cash. Post the deal, BSL Infrastructure will become the new promoter of the company, while the existing promoter group will be reclassified as public shareholders.