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.
Mark Corporate Advisors has submitted to BSE a Post Offer Advertisement for the open offer on EMA India Ltd by Dynalog (India) Ltd and five members of the Adhalrao family (Shivaji, Kalpana, Akshay, Apurva and Madhuri Adhalrao). The offer was for up to 2,61,300 equity shares (26% of equity capital) at ₹124 per share, open from November 14 to November 27, 2025. The public response was negligible: only 200 shares were tendered against the 2,61,300 shares on offer, with actual consideration of just ₹24,800 versus the potential ₹3.24 crore. The acquirers had already bought 4,52,549 shares (45.03%) through a Share Purchase Agreement. Post-offer, the acquirers hold 45.05% of EMA India, while public shareholding stands at 54.95%, essentially unchanged from the pre-offer 51.19%.
The failed tendering indicates public shareholders found the ₹124 offer price unattractive, likely expecting a higher valuation, so the acquirers fell well short of their target 71% stake. For shareholders, this signals weak market confidence in the takeover price but also means existing investors retain control of over half the company.