Finshore Management Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the public shareholders of Hypersoft Technologies Ltd ("Target Company").
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Finshore Management Services Ltd, acting as Manager to the Offer, has submitted the Draft Letter of Offer to BSE for an open offer on Hypersoft Technologies Ltd. The open offer, triggered under SEBI SAST Regulations 3(2) and 4, follows a preferential allotment of 1.20 crore equity shares at Rs. 10 each to promoter Mr. Narra Purna Babu (83.95 lakh shares) and other allottees via a share swap to acquire NX Global Pte. Ltd. (Singapore). The offer invites public shareholders to tender up to 22,17,160 shares (100% of existing public holding) at Rs. 11 per share in cash, aggregating to about Rs. 2.44 crore. The acquisition will make NX Global Pte. Ltd. a wholly owned subsidiary of Hypersoft, adding international IT and consulting operations (USA and Asia-Pacific presence via step-down subsidiaries Mindgate Solutions Pte Ltd and Mindgate Solutions LLC). The tendering period runs from May 28, 2025 to June 10, 2025.
Public shareholders of Hypersoft get a fixed exit opportunity at Rs. 11 per share in cash. Post-offer, the Acquirer's stake will rise to 71.78% of the expanded share capital, signalling a major change in control and business direction as Hypersoft pivots from a small loss-making domestic IT firm (loss of Rs. 81.20 lakh in 9M FY25) to an international IT services entity through the NX Global acquisition.