Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of the Public Shareholders of CMX Holdings Ltd ("Target Company").
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Mr. Amay Vatsalya (the Acquirer) has filed the Letter of Offer for a mandatory open offer to public shareholders of CMX Holdings Ltd (formerly SIEL Financial Services Ltd), triggered by a Share Purchase Agreement to buy 51.75% (58,70,902 shares) from existing promoter Mrs. Aveen Kaur Sood at ₹7.00 per share (₹4.11 crore total). Under the open offer, he proposes to acquire up to 29,49,500 shares (26% of voting capital) at ₹9.70 per share, aggregating to ₹2.86 crore in cash. The offer opens on September 30, 2025 and closes on October 14, 2025, with no competing offer and no minimum acceptance condition. The target company is currently not carrying out any active business, has a negative book value of around ₹5 per share, and posted losses of ₹25.22 lakh in FY25. Post-offer, the Acquirer would hold 77.75% and gain control, but has stated no intention to delist or make major changes in the near term.
Public shareholders can tender shares at ₹9.70 between Sept 30 and Oct 14, 2025; the offer represents a change of control to a new promoter for a non-operating shell company with weak financials, and the stock may see limited upside beyond the offer price unless the new promoter unveils fresh business plans.