Sobhagya Capital Options Private Limited ("Manager to the Offer") has submitted to BSE a copy of Public Announcement ("PA") as Required Under Regulation 3(1) And Regulation 4 Read With ....
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A group led by Northvale Capital Partners Private Limited and six persons acting in concert (PACs) has triggered a mandatory open offer to buy up to 60,000 equity shares (26% of the expanded voting capital, but limited to 100% of the tiny public float) from public shareholders of IDream Film Infrastructure Company Limited at Rs. 10 per share, with total payout of just Rs. 6 lakh if fully accepted. The open offer is triggered by two underlying deals: (1) a Share Purchase Agreement (SPA) where existing promoter AHA Holdings Private Limited sells its entire 90,000 shares (60% of current capital) to the acquirer for Rs. 9 lakh, and (2) a massive preferential allotment of 27.04 crore new shares to acquire South Korea-based E-Tunnel Inc., a finger-vein biometric authentication company, via a share swap worth Rs. 195.36 crore plus Rs. 4 crore in cash. Post-transaction, the acquirers will hold 73.72% of the expanded share capital while public shareholders will hold 26.28%, marking a complete pivot of the company from film infrastructure to biometric security technology. E-Tunnel will become a wholly-owned subsidiary.
For existing public shareholders, the open offer at Rs. 10/share is essentially a formality given the very small public float of just 60,000 shares, but it signals a major control change and business transformation that could materially affect the stock's trading dynamics and long-term value.