Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of Devinsu Trading Ltd ("Target Company").
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Mark Corporate Advisors, the manager to the offer, has filed the Draft Letter of Offer with BSE for a mandatory open offer to the public shareholders of Devinsu Trading Limited. The offer is triggered by a Share Purchase Agreement dated May 20, 2026, under which Mr. Jaison Vijay Shah, Mr. Mukesh Kumar Bothra, and Yora Gems & Jewellery Private Limited (collectively the Acquirers) will buy 1,71,493 shares (29.17% of voting capital) from the existing promoter Mr. Deniis Desai at ₹355 per share, amounting to about ₹6.09 crore. As per SEBI Takeover Code, this triggers a mandatory open offer of up to 1,52,880 shares (26% of voting capital) at ₹355 per share, totalling about ₹5.43 crore. Post the transaction, the existing promoter will exit and the Acquirers will take control and become the new promoters. The open offer is scheduled to run from July 14, 2026 to July 27, 2026.
This is a change-of-control event for Devinsu Trading Limited — the existing promoter is fully exiting and new acquirers are taking over the company. Public shareholders can tender their shares at ₹355 during the offer window or choose to hold. The stock may see price movement around the open offer dates, and there could be changes in board composition and future business direction under the new promoters.