Grow House Wealth Management Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulation 3(1) and 4 read with Regulation 13(4), 14(3) ....
Awaiting price reaction for this filing.
Onix Renewable Limited (Acquirer) along with three persons acting in concert — Divyesh, Piyush, and Nikhil Savaliya — has issued a Detailed Public Statement to acquire up to 17,30,400 equity shares (26% of emerging voting capital) of Sarda Proteins Limited from public shareholders. The open offer price is fixed at Rs. 115 per share, taking the total offer value to about Rs. 19.9 crore. The offer was triggered following the conversion of warrants into equity shares on March 18, 2026, after which the acquirer and PACs collectively hold 87,30,400 shares (97.28%). Sarda Proteins reported strong financials with revenue of Rs. 97,595.59 lakhs and net profit of Rs. 10,522.54 lakhs for FY25, up sharply from Rs. 14,645.50 lakhs and Rs. 907.93 lakhs in FY23. The tendering period is scheduled from May 18, 2026 to May 29, 2026.
Public shareholders can tender their shares at Rs. 115 per share during the offer window. With promoters and PACs already set to hold over 97% post-conversion, this is effectively a near-complete takeover, leaving very limited public float and potentially impacting liquidity and minimum public shareholding compliance going forward.