Corpwis Advisors Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE copies of Post Offer Advertisement for the attention of the public shareholders of Deccan Bearings Ltd ("Target Company").
Awaiting price reaction for this filing.
Corpwis Advisors, the manager to the open offer, submitted the Post Offer Advertisement for Deccan Bearings Limited to BSE on November 4, 2025. The open offer was to acquire up to 52,00,000 shares (26% of equity) at Rs. 10 per share from the Satani family acquirers, and it ran from October 10 to October 27, 2025. No public shareholders tendered any shares in the open offer, so zero shares were accepted under the tender route. The acquirers still reached 72.80% post-offer shareholding through prior share purchase agreements (8.48%) and a preferential allotment (64.11%). Public shareholding remains unchanged at about 27.10% (54,20,861 shares).
The open offer was a complete failure in terms of public participation, suggesting investors found the Rs. 10 offer price unattractive. The Satani family has nevertheless gained control of Deccan Bearings through preferential allotment and agreements, and the stock may see reduced liquidity given the low public float.