Corpwis Advisors Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Deccan Bearings Ltd ("Target Company").
Awaiting price reaction for this filing.
Corpwis Advisors, the Manager to the Offer, has filed the Draft Letter of Offer with BSE and SEBI for an Open Offer on Deccan Bearings Ltd, triggered by the Satani family (four individuals — Paresh, Tanuj, Chirag and Ramjibhai Satani) acquiring control of the company. Two Share Purchase Agreements (April 22 and April 28, 2025) cover 17.35 lakh shares (72.50% of existing capital) at ₹10 per share, alongside a proposed preferential allotment of 1.78 crore shares (89.08% of emerging capital) to the same acquirers. The Open Offer is for up to 52 lakh shares (26% of public shareholding) at ₹10 per share, totalling up to ₹5.20 crore in maximum consideration. Post-transaction, the Satani family will hold 72.50% of Deccan Bearings' emerging voting share capital. The offer opens June 16, 2025 and closes June 27, 2025.
This is a full change-of-control transaction for Deccan Bearings Ltd. Public shareholders can tender at ₹10 per share during the June 16–27 window, or hold their shares and track the stock for any post-offer re-rating once the Satani family takes over management. The deeply low offer price suggests the stock has been trading thinly, so liquidity risk is a key concern.