Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with regulations 13(1), 14 and 15(1) of the ....
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Mr. Amay Vatsalya (Acquirer) has signed a Share Purchase Agreement on June 24, 2025, with the existing promoter Mrs. Aveen Kaur Sood to acquire 58,70,902 equity shares (51.75% of voting capital) of CMX Holdings at ₹7.00 per share, totaling about ₹4.11 Crores in cash. Since this triggers a change in control, a mandatory open offer has been triggered under SEBI (SAST) Regulations for an additional 29,49,500 shares (26% of voting capital) from public shareholders at ₹9.70 per share, with a maximum consideration of ₹2,86,10,150 (about ₹2.86 Crores) payable in cash. Post-transaction, the existing promoter will be declassified and the Acquirer will become the new promoter of the company. The Detailed Public Statement (DPS) will be published on or before July 01, 2025. The Acquirer has stated no intention to delist the Target Company.
Public shareholders get a window to tender shares at ₹9.70, which is a meaningful premium over the ₹7.00 SPA price paid to the outgoing promoter. The event marks a complete change in control and promoter identity, which could bring shifts in business strategy or direction under the new promoter, though no delisting is planned.