Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Genesis Ibrc India Ltd ("Target Company").
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Swaraj Shares and Securities Pvt Ltd, acting as Manager to the Offer, has submitted the Letter of Offer to BSE for an Open Offer to the public shareholders of Genesis IBRC India Ltd (Target Company). The Open Offer has been triggered under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following Acquirers Mr. Padmanaban Krishnamoorthy and Ms. V Varalakshmi acquiring 55.92% of the voting share capital (72,69,500 shares) at Rs. 7.00 per share, plus entering a Share Purchase Agreement for an additional 11.33% from the Selling Promoter Shareholder at Rs. 37.00 per share. The Open Offer is for 20.31% of the voting share capital (the entire public holding, since it is less than the mandated 26%) at Rs. 7.00 per share, with maximum consideration of Rs. 1,84,80,273. The tendering period is scheduled to run from Wednesday, November 26 to Tuesday, December 9, 2025.
This represents a change in control of the listed Genesis IBRC India Ltd, with public shareholders given a cash exit opportunity at Rs. 7.00 per share. Shareholders should weigh this offer price against prevailing market price and consult their advisors before deciding to tender.