Inga Ventures Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer to the Public Shareholders of N2N Technologies Ltd ("Target Company").
Awaiting price reaction for this filing.
Inga Ventures (Manager to the Offer) has filed the Draft Letter of Offer with BSE for a mandatory open offer to the public shareholders of N2N Technologies Ltd. The offer is by Harmony Remedies India Private Limited (Acquirer) along with Mr. Firoze Nariman Kapadia and Ms. Aditi Vipin Parikh (PACs). They are offering to buy up to 12,91,228 equity shares (40% of the Expanded Voting Capital) at ₹4.30 per share, for a total maximum consideration of about ₹55.52 lakhs in cash. The offer has been triggered by an Acquisition of Control Agreement signed on October 27, 2025, under which the Acquirer is taking over management and operational control from existing promoter Mr. Rahul Shah, who holds 43.11% of the company. The tendering period is expected to run from December 18, 2025 to January 1, 2026. Notably, N2N Technologies' shares are currently suspended from trading on BSE due to non-payment of annual listing fees, and the Acquirer has agreed to help restore trading. Public shareholders will receive a recommendation from a committee of independent directors before the tendering period begins.
Public shareholders of N2N Technologies can choose to tender their shares at ₹4.30 during the December 18, 2025 – January 1, 2026 window, subject to SEBI approval of the final Letter of Offer. The offer is small in size (about ₹55 lakhs total) and the stock is currently suspended from trading, limiting normal market exit. Shareholders should wait for the independent directors' recommendation before deciding.