Grow House Wealth Management Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Addendum cum Corrigendum to the Public Announcement, Detailed Public Statement and Draft Letter ....
Awaiting price reaction for this filing.
Grow House Wealth Management, manager to the offer, has issued an addendum revising the open offer size from 18,04,508 to 83,04,508 equity shares (25.04% of emerging voting capital). Acquirers Ashu Bishnoi and Yagnik Tank are offering Rs 20 per share, totalling Rs 16.60 crore assuming full acceptance. This mandatory open offer was triggered under SEBI (SAST) Regulations due to underlying transactions including a Share Purchase Agreement and preferential allotment completed on March 26, 2026, resulting in acquirers crossing the 25% threshold. Escrow amount of Rs 4.16 crore (>25% of consideration) has been deposited with ICICI Bank. Upon completion, acquirers will hold 100% of the target company.
This is a mandatory open offer triggered by crossing 25% shareholding threshold. Public shareholders can tender shares at Rs 20 each, with the acquirers targeting 100% ownership post-offer. The revision increases the offer size significantly, giving existing public shareholders an exit opportunity.