Company is in receipt of Letter of Offer in the matter of Acquisition of 14,97,700 shares of Target Company ( Nirbhay Colours India Limited ), by Mr Dakshesh Rameshchandra Shah ( Acquirer ....
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An open offer has been triggered for Nirbhay Colours India Limited by a group of seven acquirers led by Mr. Dakshesh Rameshchandra Shah, along with family members and M/s Seher Retail Private Limited. The acquirers are offering to buy up to 14,19,700 equity shares at ₹10 per share in cash, representing 42.38% of the emerging voting capital. The offer follows a Share Purchase Agreement signed on December 12, 2025, to acquire 6,74,300 shares (20.13%) from six selling shareholders for an aggregate of ₹67.43 lakhs, which would give the acquirers control and management of the target company. The open offer was originally scheduled to run from February 3 to February 16, 2026, but has been revised to February 12 to February 26, 2026. Assuming full acceptance, the acquirers would hold 71.04% of the target company post-offer.
Public shareholders of Nirbhay Colours India Limited can tender their shares at ₹10 each during the revised tendering period of February 12-26, 2026. The offer price of ₹10 is notably at par with face value, suggesting the company may be under stress, and the change in control could lead to a shift in business direction and capital infusion. Shareholders should review the independent directors' recommendation before deciding to tender.