D & A Financial Services (P) Ltd ("Manager to the Offer") has submitted to BSE a copy of Newspaper Cuttings of Pre-Offer Advertisement in respect of the open offer to the public shareholders ....
Awaiting price reaction for this filing.
D & A Financial Services, the Manager to the Offer, has filed newspaper cuttings of the Pre-Offer Advertisement for the open offer to Grand Foundry's public shareholders. The acquirers are Mr. Rakesh Kumar Bansal and Mr. Gaurav Goyal. The offer price is fixed at Rs 2.00 per equity share, which is higher than the SEBI-mandated valuation price of Rs 1.77 and the share purchase agreement price of Rs 1.40. The Independent Directors Committee has recommended the offer price as fair and reasonable. The tendering window opens on 3rd November 2025 and closes on 17th November 2025. No competing offer has emerged and no statutory approvals are required.
Public shareholders of Grand Foundry can choose to tender their shares at Rs 2 per share between 3rd and 17th November 2025. The very low offer price relative to typical market values suggests this is a small-cap takeover; shareholders should weigh the offer price against prevailing market quotes before deciding.