Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Offer Opening Public Announcement to the shareholders of Esaar India Ltd ("Target Company").
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Navigant Corporate Advisors Ltd has submitted the Offer Opening Public Announcement for the open offer to acquire up to 53,15,050 equity shares (26% of paid-up capital) of Esaar India Ltd at Rs. 8.00 per share by Prabhat Capital Investments Ltd. The Independent Directors Committee has reviewed and found the offer price justified under takeover regulations. The Letter of Offer has been dispatched to public shareholders on 22 August 2025, and no competitive bid was received. The revised offer opening date is 1 September 2025 and closing date is 15 September 2025.
Public shareholders of Esaar India can tender their shares at Rs. 8.00 per share between 1-15 September 2025. The offer price being deemed justified by the IDC suggests fair valuation, though the price level may indicate a low-value tender opportunity for existing shareholders.