D & A Financial Services (P) Ltd ("Manager to the Offer") has submitted to BSE a copy of Corrigendum to the Detailed Public Statement for the attention of the equity shareholders of Grand ....
Awaiting price reaction for this filing.
A corrigendum has been issued to the Detailed Public Statement (DPS) for the open offer by M/s SAR Televenture Limited (Acquirer) to the equity shareholders of Grand Foundry Limited, filed under SEBI (SAST) Regulations, 2011. The original timeline of the open offer has been pushed back by roughly 5 weeks: the Identified Date shifts from April 16, 2026 to May 25, 2026, Offer Opening from April 30, 2026 to June 9, 2026, and Offer Closing from May 14, 2026 to June 22, 2026. Updated acquirer financials show SAR Televenture's total income rising sharply from Rs 3,251.64 lakhs (FY23) to Rs 35,619.32 lakhs (FY25), with a net worth of Rs 77,302.89 lakhs as of December 31, 2025, and the acquirer has certified sufficient liquid funds to meet its obligations. Grand Foundry's financials show negligible revenue (Rs 2.05 lakhs in FY25) but a sharp jump to Rs 1,052.56 lakhs in FY26, with a small profit of Rs 18.13 lakhs; net worth remains negative at Rs (545.34) lakhs. The offer is being managed by D & A Financial Services (P) Ltd, and the corrigendum has been published in English (Financial Express), Hindi (Jansatta), and a Mumbai edition.
The open offer is delayed by about five weeks, giving existing shareholders more time to evaluate. With the acquirer's strong financial backing confirmed and the target's weak financial position (negative net worth), shareholders may view the offer as a potential exit opportunity, though the final offer price/number has not been revised in this corrigendum.