Sobhagya Capital Options Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement in accordance with the provisions of Regulations Regulation 3(1) and ....
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Northvale Capital Partners Pte Ltd (Singapore), along with five persons acting in concert, has triggered a mandatory open offer to acquire up to 60,000 equity shares (26% of expanded voting capital but capped at 100% of existing public holding of 60,000 shares) of IDream Film Infrastructure Company Ltd at Rs. 10 per share, for a total consideration of Rs. 6 lakh. The offer follows a Share Purchase Agreement dated December 22, 2025, under which existing promoter AHA Holdings Private Limited will sell its 90,000 shares (60% of existing paid-up capital) to the acquirer at Rs. 10 per share (Rs. 9 lakh total). The acquirer will also subscribe to ~27 crore equity shares via a preferential issue, partly in kind by swapping shares of E-Tunnel Inc. (a foreign entity) and partly in cash, which will massively expand the share capital. The target company is small, loss-making (net worth negative at Rs. 462.68 lakh as of September 2025), infrequently traded on BSE, and flagged as 'SDD Non-compliant.'
Public shareholders are effectively being offered an exit at Rs. 10 per share, but the offer is tiny in absolute value (max Rs. 6 lakh for the entire public float). The transaction signals a complete change of control to a foreign acquirer and a major capital restructuring through a massive preferential issue, which will drastically dilute existing holdings. Existing public shareholders face near-zero liquidity and should weigh the offer price against the company's negative net worth and SDD non-compliant status.