Detailed Public Statement
Awaiting price reaction for this filing.
Two acquirers, Kolli Murali Krishna and Gogineni Srinivas, have issued a Detailed Public Statement for an open offer to public shareholders of Senthil Infotek Ltd. This mandatory open offer was triggered after the acquirers signed a Share Purchase Agreement to buy 62.90% (31,76,300 shares) from the existing promoters at ₹5.50 per share. The open offer is for up to 26% of voting share capital (13,13,000 shares) at ₹8 per share, totaling ₹1,05,04,000. The acquirers plan to reconstitute the board after completion. The company is an IT solutions firm listed on BSE with shares under Graded Surveillance Measures Stage 2. The tendering period is expected from June 3 to June 16, 2026.
Existing public shareholders can tender their shares at ₹8 per share, which is 45% premium to the negotiated promoter price of ₹5.50. The existing promoter group will exit and be reclassified as public shareholders, while the acquirers will gain control of the company.