Grow House Wealth Management Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of the Sarda Proteins Ltd ("Target Company")
Awaiting price reaction for this filing.
Onix Renewable Limited (Acquirer), along with three persons acting in concert (Divyeshkumar, Piyush, and Nikhil Savaliya), has filed a Draft Letter of Offer with SEBI for an open offer to acquire 17,30,400 equity shares (19.28% of emerging voting share capital) of Sarda Proteins Ltd at ₹115 per share, totalling up to ₹19.9 crore. The offer is triggered under SEBI (SAST) Regulations 3(1) and 4, following a change in control and management of the target company, linked to an underlying Share Purchase Agreement and prior conversion of 72,50,000 warrants into equity shares. Grow House Wealth Management is the manager to the offer, with Skyline Financial Services as registrar. The tendering period is scheduled from May 18, 2026 to May 29, 2026.
This is a triggered open offer that will result in a change of control and management at Sarda Proteins. Shareholders can tender their shares at ₹115 per share in cash during the offer window. The acquirer will need to restore minimum 25% public shareholding post-offer if it falls below the threshold. The stock may see price activity around the offer price as a near-term reference.