D & A Financial Services (P) Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3 (1) and 4, read with Regulation 15(1) of the Securities ....
Awaiting price reaction for this filing.
SAR Televenture Limited has announced an Open Offer to acquire up to 79,11,800 equity shares (26%) of Grand Foundry Limited at Rs. 2.50 per share in cash. This follows a Share Purchase Agreement where SAR Televenture will buy 2,13,51,740 shares (70.17% of paid-up capital) from existing promoters Mr. Gaurav Goyal (56.13%) and Mr. Rakesh Kumar Bansal (14.04%) for Rs. 3.20 crores, triggering SEBI Takeover Regulations 3(1) and 4. SAR Televenture currently holds zero shares and will gain complete control of Grand Foundry post-transaction. The Detailed Public Statement is expected by 10th March 2026, and the offer is not conditional on minimum acceptance.
This represents a complete change of control at Grand Foundry, with existing promoters exiting entirely. Public shareholders get a chance to tender shares at Rs. 2.50 per share, though this is typically a floor price and may be revised in the Detailed Public Statement. Investors should watch for the DPS on 10th March for final pricing and timeline details.