D & A Financial Services (P) Ltd ("Manager to the Offer") has submitted to BSE a copy of Advertisement under Regulation 18(7) in terms of SEBI (Substantial Acquisition of Shares and Takeovers) ....
Awaiting price reaction for this filing.
SAR Televenture Limited has launched an open offer to acquire shares of Grand Foundry Limited at Rs 2.50 per equity share, as required under SEBI Takeover Regulations. The offer price is higher than the SEBI-determined valuation price of Rs 2.28 per share and the negotiated price of Rs 1.50 per share under the share purchase agreement. The Committee of Independent Directors of Grand Foundry has recommended the offer price as fair and reasonable. There is no competing offer and no statutory approvals are needed. The tendering window for shareholders runs from June 9, 2026 to June 22, 2026, with payment expected by July 7, 2026.
Public shareholders of Grand Foundry can choose to tender their shares at Rs 2.50 during the June 9-22, 2026 window. The offer price offers a meaningful premium over the SPA price but shareholders should independently evaluate before deciding.