Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of SER Industries Ltd ("Target Company").
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Swaraj Shares and Securities Pvt Ltd, acting as Manager to the Offer, has filed the Draft Letter of Offer with BSE on behalf of Mr. Sunil Kumar Shahi (Acquirer) for an open offer to the public shareholders of SER Industries Limited. The Acquirer is offering to buy up to 2,57,294 shares (26.00% of voting capital) at Rs.35 per share, aggregating to Rs.90,05,290 in total consideration, payable in cash. This mandatory open offer is triggered under SEBI (SAST) Regulations 3(1) and 4 following a Share Purchase Agreement dated May 22, 2025, where the Acquirer agreed to purchase 5,47,215 shares (55.30%) from nine existing promoter/promoter group entities at the same Rs.35 price (totaling Rs.1,91,52,525), resulting in a change of control. The Tendering Period is tentatively scheduled from July 14, 2025 to July 25, 2025, with SEBI observations expected by June 26, 2025.
Public shareholders of SER Industries get a direct cash exit opportunity at Rs.35 per share during the tender window. The offer also signals a complete change of control and promoter change at the company, which could affect future direction and minimum public shareholding compliance over the next 12 months.