D & A Financial Services (P) Ltd has submitted to the Exchange regarding a copy of Public Announcement Under Regulations 3(1) and 4 Read with Regulations 15(1) the Securities And Exchange Board of India ( Substantial Acquisition of Shares and Takeovers) Regulations,2011,As Amended ( Takeover Regulations ) for the attention of the shareholders of Grand Foundry Limited (Target Company ).
Awaiting price reaction for this filing.
SAR Televenture Limited (acquirer) is making an Open Offer for up to 79,11,800 equity shares (26% of paid-up capital) of Grand Foundry Limited at Rs. 2.50 per share in cash. The open offer has been triggered by a Share Purchase Agreement where the acquirer is buying 2,13,51,740 shares (70.17% of capital) from promoters Gaurav Goyal (56.13%) and Rakesh Kumar Bansal (14.04%) for Rs. 3.20 crores. The acquirer, promoted by M.G. Metalloy Private Limited, currently holds no shares and will gain complete control after the transaction. A Detailed Public Statement (DPS) will be published by 10th March 2026, and the offer is not subject to a minimum acceptance condition.
This is a change-of-control transaction where public shareholders get a clear exit opportunity at a fixed cash price of Rs. 2.50/share. The deal signals a potential management overhaul, but the offer price and overall deal size are small, limiting broad market impact on the stock.