Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of the Addendum cum Corrigendum to the Letter of Offer to the Equity Shareholders of Genesis Ibrc ....
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Mr. Padmanaban Krishnamoorthy and Ms. V Varalakshmi (the Acquirers) have issued an Addendum to the Letter of Offer to buy up to 26,40,039 equity shares (20.31% of voting capital) of Genesis IBRC India Limited from public shareholders at ₹7.00 per share, with a total maximum payout of around ₹1.85 crore. The open offer was triggered because the Acquirers already acquired 72,69,500 shares (55.92%) through an off-market deal and entered a Share Purchase Agreement for an additional 14,73,000 shares (11.33%) from a selling promoter at the same ₹7.00 price. The key change in this addendum is that the Acquirers are non-resident Indians (one is based in Dubai), so per SEBI's directions, the offer will now be settled through the off-market 'tender offer method' instead of the stock exchange window. The offer opens on Wednesday, November 26, 2025 and closes on Tuesday, December 9, 2025, and the offer price is below the face value of the equity shares, which is flagged as a risk factor.
Public shareholders of Genesis IBRC India Limited can tender their shares at ₹7.00 per share between November 26 and December 9, 2025 to exit if they wish. Shareholders should note the offer price is below face value and reflects a change of control, so careful consideration of tax implications (no STT, capital gains tax may apply) is advised.