Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the public shareholders of Devinsu Trading Ltd ("Target Company").
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Mr. Deniis Desai has launched a mandatory open offer to acquire up to 1,63,800 equity shares (26% of the emerging voting capital) of BSE-listed Devinsu Trading Ltd at ₹350 per share, aggregating to ₹5.73 crore in cash. The open offer follows a Share Purchase Agreement with the existing promoter, Sunshine Fibre Pvt Ltd, to buy 91,493 shares (14.52% stake) at the same ₹350 price. Additionally, the company plans a preferential issue of 1,30,000 shares at ₹350, with 80,000 going to the acquirer and 50,000 to non-promoters. The company, which has not generated revenue from operations and whose shares have barely traded on BSE for nearly two decades, will see a complete change of control with the existing promoter being declassified. The offer opens on October 27, 2025 and closes on November 10, 2025.
Public shareholders of this illiquid, thinly-traded stock get a rare exit opportunity at ₹350 per share. The transaction triggers a change of control, with new management (a real estate professional with ₹13.14 crore net worth) planning to diversify the company's operations and potentially restructure its capital and board.