Kotak Mahindra Capital Company Ltd has submitted to the Exchange a copy of post-offer advertisement in accordance with Regulation 18(12) of the SEBI (SAST) Regulations, 2011, as amended, for the attention of the public shareholders of the company.
HCG · price
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Healthcare Global Enterprises Limited (HCG) has completed the open offer process for acquisition of up to 3,70,90,327 equity shares (26% of expanded voting share capital) at INR 504.41 per share by Hector Asia Holdings II Pte. Ltd. (Acquirer, KKR-linked) along with PACs including KKR Asia IV Fund Investments Pte. Ltd. The open offer ran from July 21 to August 1, 2025, with payment made on August 7, 2025. The public response to the open offer was negligible — only 318 shares were tendered out of the 3.7 crore shares on offer (worth just INR 1.6 lakh versus the proposed INR 1,870 crore size). Post-offer, the Acquirer holds 7,16,78,309 shares (50.25%) and PAC 3 (KIA EBT II Scheme 1) holds 2,50,044 shares (0.18%), having already acquired the bulk of the stake via a Share Purchase Agreement from the promoter on May 30, 2025.
Control of HCG has effectively passed to KKR-affiliated entities, with the Acquirer now holding a 50.25% stake as the new promoter. The near-zero tendering in the open offer is typical when the controlling stake changes hands via a private share purchase agreement, leaving little incentive for public shareholders to tender. The stock is unlikely to see further open offer–related upside, and shareholders should watch for board restructuring and strategic direction under the new KKR-led promoter.