Detailed Public Statement(DPS) dated 14 April 2025 in relation to the Open offer of Alchemist Corporation Limited under regulation3(1) and 4 read with regulation 13(4),14(3) and 15(2) and ....
Awaiting price reaction for this filing.
Wallet Circle Technologies Limited (the Acquirer) has issued a Detailed Public Statement on April 14, 2025, for a mandatory open offer to acquire up to 12,72,133 equity shares (25.89% of voting capital) of Alchemist Corporation Ltd at Rs. 16 per share, totaling about Rs. 2.04 crore. This open offer follows a Share Purchase Agreement dated April 04, 2025, under which the Acquirer is buying 36,42,200 shares (74.11% of voting capital) from the current promoter, Rajendra Seclease Limited, at Rs. 6 per share. Post-deal, Wallet Circle Technologies will become the new promoter of Alchemist Corporation, taking full control of management. The Acquirer is a digital advertising solutions company based in Delhi/Gurugram, while the Target Company is engaged in business consultancy, R&D, and trading of jewelry and gems. The shares of Alchemist are classified as infrequently traded on BSE and currently under GSM Stage 2.
This is a change-of-control event for shareholders. Public shareholders can tender their shares at Rs. 16 per share during the 10-working-day tendering period. Post-offer, the Acquirer will hold 100% of the company, so liquidity for remaining public shareholders may become limited going forward.