Post open offer report filed: Acquirers now hold 56.45% in Craftroot Retail
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Awaiting price reaction for this filing.
Craftroot Retail (formerly Nirbhay Colours India) has filed the post open offer report for the acquisition by a group of Shah and Patel family members along with Seher Retail Pvt Ltd. The offer was for 14.19 lakh shares (42.38% of capital) at Rs.10 per share, totalling about Rs.1.42 crore. Of 11.16 lakh shares tendered, 10.16 lakh were accepted. Acquirer holding rose from 8.17% to 56.45%, making this a control change. Payment was made on March 30, 2026, with 18% interest paid for a 15-day delay in opening the offer. Public shareholding stands at 43.55%, above the 25% minimum.
Control has shifted to the Shah and Patel family group. Expect a new board and strategic direction. Free float remains above the 25% minimum required.