Open Offer by Pankaj Grover and Abhisek Gupta for 26 percent of Genomic Valley Biotech

Open Offer TriggeredListed Co AcquisitionStrategic Transactions View source PDF Explain this filing

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₹32.59

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Nifty Microcap 250market · in no size index; the smallest one is used-2.6%+7.6% vs market

Biotechnology peers, median of 5sector+0.0%+5.0% vs sector

On the reaction day the stock moved 7.6 pts more than Nifty Microcap 250 and 5.0 pts more than its Biotechnology peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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+15.7-5.8+21.6-2.4+18.1

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AI summary

Pankaj Grover and Abhisek Gupta are making a mandatory open offer for up to 7,94,170 equity shares, 26 percent of Genomic Valley Biotech, at Rs 30 per share. The offer is triggered by a Share Purchase Agreement where they will buy 14,07,000 shares, 46.06 percent, from promoter Yogesh Agrawal at Rs 30 each, worth Rs 4.22 crore. Open offer totals about Rs 2.38 crore if fully accepted.

Likely market impact

Shareholders can tender shares at Rs 30 in open offer. Acquirers will hold 46 percent, signalling change of control. Detailed statement by October 27.