Draft letter filed for 26 percent open offer at Rs 10.20 per share

Prafful Agarwal and Anupam Gupta propose to buy up to 43,58,163 shares, 26 percent of Frontier Capital, at Rs 10.20 each in cash. The mandatory open offer follows their agreement to buy 93,98,455 shares, or 56.07 percent, from promoters at Rs 10, changing control. Maximum offer consideration is Rs 4.45 crore. Tendering is scheduled for December 7 to 18, 2026, subject to RBI approval.