Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of post offer advertisement under Regulation 18 (12) of Securities and Exchange Board of India (Substantial ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Mr. Deniis Desai's open offer to buy up to 1,63,800 equity shares (26% of voting capital) of Devinsu Trading at ₹350 per share ran from October 27 to November 10, 2025, and closed with zero shares tendered by public shareholders. The potential offer size of roughly ₹5.73 crore therefore did not materialize, and no consideration was paid to any shareholder. The acquirer's post-offer holding stands at 27.22% (1,71,493 shares) instead of the originally targeted 53.22%, obtained through a Share Purchase Agreement (91,493 shares, 14.52%) and a pending preferential allotment (80,000 shares, 12.70%). Consequently, public shareholding remained high at 72.78% rather than dropping to the expected 46.78%. The Post Offer Advertisement has been published in Business Standard (English and Hindi, all editions) and Navshakti (Marathi, Mumbai edition).
Zero participation suggests public shareholders found the ₹350 offer price unattractive, leaving no cash exit opportunity for retail investors through this route. The acquirer still secured control via the SPA and preferential allotment, but the failed tender signals weak market confidence in the bid price and leaves the stock's liquidity profile unchanged for existing public shareholders.