Fast Track Finsec Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the eligible Shareholders of Omansh Enterprises Ltd ("Target Company").
Awaiting price reaction for this filing.
Fast Track Finsec Pvt Ltd, acting as Manager to the Offer, has submitted the final Letter of Offer to BSE for a mandatory open offer to public shareholders of Omansh Enterprises Ltd under SEBI (SAST) Regulations 3(1) & 4. A group of four acquirers — Avnish Jindal, Piyush Gupta, Nilesh Jindal and Purshottam Kumar Gupta — are seeking to buy up to 44,03,007 equity shares (25.12% of expanded voting share capital) at Rs. 2 per share, aggregating to a maximum payout of Rs. 88.06 lakh. The offer is triggered by a Share Purchase Agreement dated June 10, 2025 with the selling public shareholders (Ingenius Investment Advisors LLP and BRCCA Services Pvt Ltd) for 45 lakh shares, combined with the conversion of 25 lakh CCPS into equity shares. Post the underlying transaction, the acquirers already hold 72.03% of the expanded capital, and on full acceptance they would hold 97.15%, effectively taking the company into a privately-controlled state. The offer opens on November 11, 2025 and closes on November 24, 2025. Notably, Omansh Enterprises had emerged from an NCLT-approved insolvency resolution plan (CIRP) earlier, and this open offer is part of the change-of-control process flowing from that resolution.
Public shareholders will have a limited window to tender shares at the fixed offer price of Rs. 2; the very low price (equal to face value) suggests acquirers are primarily seeking to consolidate control rather than offer a premium exit. On full acceptance, public shareholding will fall below the mandatory 25% threshold, which may eventually lead to delisting actions by the acquirers.