Public Announcement (PA) in respect of open offer made by acquirers as listed in PA.
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Nirbhay Colours India Limited (BSE: 526349) has received a Public Announcement dated December 12, 2025, for an open offer by a group of seven acquirers led by Mr. Dakshesh Rameshchandra Shah and including individuals along with Seher Retail Private Limited. The offer was triggered by a Share Purchase Agreement (SPA) signed on December 12, 2025, where the acquirers are buying 6,74,300 shares (20.13% of voting capital) from existing sellers at ₹10 per share, aggregating ₹67.43 lakh. As a result, a mandatory open offer for up to 14,19,700 equity shares (42.38% of the emerging voting capital) has been triggered at ₹10 per share, with total consideration of approximately ₹1.42 crore payable in cash. The acquirers will become the new promoters and gain control of the company, and there is no intent to delist. Wealth Mine Networks Limited is acting as the manager to the offer, and a Detailed Public Statement will be issued by December 19, 2025.
Shareholders of Nirbhay Colours India Limited will get an opportunity to tender their shares at ₹10 each during the open offer window. Post-completion, the company will see a complete change in promoter group and management control, which may influence strategic direction and shareholder composition.