Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of SER Industries Ltd ("Target Company").
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Mr. Sunil Kumar Shahi (Acquirer) has triggered a mandatory open offer to buy up to 2,57,294 equity shares (26.00% of voting capital) of SER Industries Limited from public shareholders at ₹35.00 per share in cash, with a maximum total consideration of about ₹90.05 lakh. The offer follows a Share Purchase Agreement dated May 22, 2025, under which the Acquirer has already bought 5,47,215 shares (55.30%) from nine existing promoter sellers (Goel family and NG Cargocare Limited) at ₹35.00 per share, aggregating to about ₹1.91 crore, resulting in a change of control of SER Industries. The existing promoters will fully exit, transferring control and management to the Acquirer. The tendering window runs from August 20, 2025 to September 3, 2025, with settlement to follow.
Public shareholders of SER Industries can tender shares at a fixed ₹35.00 floor price during the offer window. The promoter group is exiting entirely and a new individual acquirer is taking control of the listed company, which may influence future strategy and governance direction.