Choice Capital Advisors Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13, 14 and 15(1) of Securities ....
Awaiting price reaction for this filing.
Choice Capital Advisors, acting as Manager to the Open Offer, has filed a Public Announcement on BSE for an open offer to the public shareholders of Esha Media Research Ltd (BSE Scrip Code: 531259). The offer is triggered by Opulus Bizserve Private Limited acquiring shares and control of the company through a Share Purchase Agreement and a preferential allotment approved by the board on August 6, 2025. Under the open offer, up to 22,89,802 equity shares (26% of emerging voting capital) will be bought from public shareholders at ₹15 per share, for a total consideration of about ₹3.43 crore. After the underlying transactions, Opulus Bizserve will hold 33.57% and become the new promoter of Esha Media Research. Shareholders' approval for the preferential issue will be sought at the AGM on September 1, 2025. Note that Esha Media shares are currently trading under BSE's Enhanced Surveillance Measure (ESM) Stage 2.
This is a change-of-control event where a new promoter (Opulus Bizserve) is taking over the company, which may bring volatility in the stock. Existing public shareholders can tender their shares in the open offer at ₹15 each during the tendering period, but no delisting is planned by the acquirer.