Saffron Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Corrigendum to ther Public Announcement, Detailed Public Statement and Draft Letter of Offer for ....
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Four acquirers — Balaji Raghavan, Manojshankar Tripathi, Rushabh Chaubey, and Nitish Nagori — have issued a corrigendum to their earlier public announcement and draft letter of offer for an open offer to buy up to 40,58,589 equity shares (about 26.93% of the company) of Ironwood Education Ltd from public shareholders at Rs. 36.10 per share, aggregating to roughly Rs. 14.65 crore. The offer is a mandatory open offer triggered under SEBI's Takeover Regulations following changes in shareholding and an underlying agreement. After full acceptance, the acquirers together would hold about 65.89% of the target company. The corrigendum mainly corrects typographical and definitional errors in the offer documents and was published on April 8, 2025 in Financial Express, Jansatta, and Pratahkal.
Public shareholders of Ironwood Education Ltd can tender their shares at Rs. 36.10 each until the offer closes. The offer price represents the exit price available to minority shareholders, and the corrigendum does not change the substantive terms of the deal.