Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of the eligible equity shareholders of EMA India Ltd ("Target Company").
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Mark Corporate Advisors has submitted the Letter of Offer for a mandatory open offer to public shareholders of EMA India Ltd, triggered under SEBI (SAST) Regulations 2011. Acquirers Dynalog (India) Ltd and five members of the Adhalrao family are buying up to 2,61,300 equity shares (26% of voting capital) at ₹124 per share, totalling about ₹3.24 crore in cash. The offer follows a Share Purchase Agreement signed on July 30, 2025, under which the Adhalrao group acquired 4,52,549 shares (45.03%) from the existing promoters (Bhargava family and Diatech Tools) at the same ₹124 price, worth about ₹5.61 crore. The SPA was completed on September 12, 2025, giving the Acquirers control of EMA India and leading to the declassification of the existing promoters. The open offer opens November 14, 2025 and closes November 27, 2025. EMA India is a Kanpur-based listed company with total paid-up capital of ₹1.005 crore (10.05 lakh shares of ₹10 each).
Public shareholders can tender their shares at ₹124 between Nov 14–27, 2025. This is a control change event — the Bhargava family is exiting and the Adhalrao group is taking over, which may affect stock price volatility around the tendering window.