Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) And 4 read with Regulations 13(1), 14, and 15(1) of the ....
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Three acquirers—Mr. Jaison Vijay Shah, Mr. Mukesh Kumar Bothra, and Yora Gems & Jewellery Private Limited—have entered into a Share Purchase Agreement to acquire 29.17% stake (1,71,493 shares) from promoter Mr. Dennis Desai at ₹355 per share, totaling ₹6.09 Crores. This acquisition triggered a mandatory open offer under SEBI (SAST) Regulations to purchase up to 1,52,880 additional shares (26% of equity capital) at the same price of ₹355 per share, requiring cash outflow of ₹5.43 Crores. The total maximum consideration across both transactions is approximately ₹11.52 Crores. Upon completion, the Acquirers will become the new promoters of Devinsu Trading Limited, and the existing promoter will be reclassified as a public shareholder.
Existing shareholders of Devinsu Trading should note this is a mandatory open offer at ₹355 per share, which may provide an exit opportunity. The stock could see increased volatility around the offer period. This represents a complete change in control of the listed company.