Promoters selling 56.07% stake; mandatory open offer to follow

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

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Diversified Commercial Services peers, median of 78sector-2.3%—

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UpDownMarket · Nifty Microcap 250Sector · Diversified Commercial Services peers, median of 78Pending

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AI summary

Frontier Capital's promoters have signed a Share Purchase Agreement dated 13 October 2026 to sell 93,98,455 equity shares (56.07% of paid-up capital) to Mr. Prafful Agarwal and Mrs. Anupam Gupta at Rs. 10 per share. The deal triggers a mandatory open offer to public shareholders under SEBI Takeover Regulations, 2011. Post-transaction, the acquirers will become new promoters and gain control of the company. Board reconstitution is planned and RBI approval is being sought as the company is an NBFC.

Likely market impact

Change of control coming. Expect open offer details soon at SEBI-mandated price. Public shareholders can decide to tender or hold later.