Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Pre-offer Advertisement and Corrigendum to the Detailed Public Statement under Regulation 18(7) ....
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Swaraj Shares and Securities Pvt Ltd, the Manager to the Offer, has submitted a Pre-Offer Advertisement and Corrigendum to the Detailed Public Statement to BSE for an open offer on Genesis IBRC India Limited. Acquirers Mr. Padmanaban Krishnamoorthy and Ms. V Varalakshmi are offering to buy up to 26,40,039 shares (20.31% of voting share capital) from public shareholders at ₹7.00 per share in cash. The open offer is triggered under SEBI (SAST) Regulations 3(1) and 4 following the acquirers' purchase of 72,69,500 shares (55.92%) at ₹7.00 per share aggregating to ₹5.09 crore, plus a Share Purchase Agreement for an additional 14,73,000 shares (11.33%) at ₹7.00 per share. The Independent Directors Committee has deemed the offer price fair and reasonable. The tendering period runs from November 26, 2025 to December 9, 2025, with payment to be completed by December 23, 2025.
Public shareholders of Genesis IBRC India Limited have a window to tender their shares at ₹7.00 each until December 9, 2025. With the acquirers already holding 55.92% and the IDC calling the price fair, the open offer represents a potential exit opportunity at the same price as the underlying deal, with no upward revision announced.