Finshore Management Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement undeer Regulation 15(2) read with Regulation 13(4) of SEBI (Substantial ....
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Mr. Narra Purna Babu has triggered a mandatory open offer to buy 22,17,160 equity shares (the entire public shareholding) of Hypersoft Technologies at Rs. 11 per share in cash. The offer was triggered by his preferential allotment of 83,95,000 equity shares, which is part of a bigger deal where Hypersoft is buying 4,80,00,000 shares of Singapore-based NX Global Pte. Ltd. and issuing 1,20,00,000 of its own shares in exchange. Since the post-deal public holding threshold (26% of expanded capital at 42,25,442 shares) exceeds the current public float, the open offer size has been capped at 100% of existing public holding. The Detailed Public Statement was published on April 7, 2025 in Financial Express, Jansatta, Pratahkal, and Prabhatha Velugu.
Public shareholders can tender their shares at Rs. 11 each under the open offer, though they should weigh this against the prevailing market price. The acquisition of NX Global is a significant change in business direction and may lead to stock volatility around offer timelines and corporate actions.