SE intimation Open Offer
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Awaiting price reaction for this filing.
Mr. Sunil Kumar Shahi (the Acquirer) has entered into a Share Purchase Agreement on May 22, 2025 to buy 5,47,215 equity shares (55.30% of voting capital) from the existing promoters of SER Industries Limited at ₹35.00 per share, aggregating to ₹1.91 crore. This deal triggers a mandatory open offer under SEBI (SAST) Regulations for an additional 2,57,294 shares (26.00%) from public shareholders at the same ₹35.00 price, with a maximum open offer outlay of ₹90.05 lakh. The shares of SER Industries are classified as infrequently traded. After both the SPA and full acceptance of the open offer, the Acquirer will hold 81.30% of the company, taking over control and management. The Acquirer has stated no intention to delist the company.
Public shareholders have a window to tender shares at ₹35.00 per share in cash; this is a control change with the incoming acquirer holding over 80% post-offer, which may reduce trading liquidity and float. Prompt action is needed to check ongoing disclosures, as the Detailed Public Statement is expected by May 29, 2025.