Saffron Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post offer advertisement under Regulation 18(12) of the Securities and Exchange Board of India (SAST) ....
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Saffron Capital Advisors has submitted the Post Offer Advertisement to BSE for the open offer made by four acquirers — Balaji Raghavan, Manojshankar Tripathi, Rushabh Chaubey, and Nitish Nagori — to acquire up to 33,33,030 equity shares (22.12% of voting capital) of Ironwood Education Ltd at ₹36.10 per share, totalling about ₹12.03 crore. The offer opened on April 30, 2025, and closed on May 15, 2025, with 12,26,027 shares actually tendered and accepted. Payment to shareholders was completed on May 28, 2025. Following the offer, the acquirers collectively hold 78,21,200 shares, representing 51.90% of the fully diluted equity share capital, making them the majority owners of the listed company.
The open offer has concluded successfully, and the acquirers have crossed the 50% threshold, taking control of Ironwood Education Ltd. Public shareholding has reduced from 42.15% to 17.81%, signalling a change in control and possible delisting or management restructuring going forward.