D & A Financial Services (P) Ltd (Manager to the Offer) has submitted to the Exchange a copy of Advertisement under Regulation 18(7) in terms of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to the shareholders of Grand Foundry Limited (Target Company).
Awaiting price reaction for this filing.
Grand Foundry Limited has informed the exchanges that D & A Financial Services (P) Ltd, acting as the Manager to the Offer, has submitted a copy of the public advertisement for an open offer under Regulation 18(7) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This advertisement is being issued to the shareholders of Grand Foundry Limited in connection with a substantial acquisition or takeover of shares in the company. The specific terms such as offer price, number of shares, and open offer size would be detailed in the published advertisement. Shareholders are advised to review the advertisement carefully for complete details.
This signals an ongoing or impending change in control/ownership event for Grand Foundry Limited. Existing shareholders should watch for the detailed open offer terms (price, quantity, and timeline), as it may present an opportunity to exit at a stated price or signal a potential re-rating of the stock depending on the acquirer's intentions.