JM Financial Limited has Submitted to the Exchange a copy of pre-offer advertisement under Regulation 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (SEBI (SAST) Regulations) and corrigendum to the detailed public statement for the attention of the public shareholders of the Company.
KOLTEPATIL · price
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JM Financial, the manager to the open offer, has submitted a pre-offer advertisement and corrigendum to the detailed public statement for an open offer to public shareholders of Kolte-Patil Developers Limited. The acquirer is BREP Asia III India Holding Co VII Pte. Ltd. (Blackstone Real Estate Partners Asia), which is offering to buy up to 2,30,56,825 equity shares (26% of the Emerging Voting Capital) from public shareholders. The offer price is INR 329 per share, amounting to a total consideration of up to approximately INR 758.57 crore in cash, assuming full acceptance. The corrigendum was published on August 21, 2025, in English (Financial Express), Hindi (Jansatta), and Marathi (Navshakti, Loksatta) newspapers as required by SEBI takeover regulations.
Public shareholders of Kolte-Patil Developers can tender their shares at INR 329 per share in cash under this mandatory open offer triggered by Blackstone's acquisition. The offer price provides a floor valuation reference and may support the stock price in the near term, though the actual premium over market price and acceptance levels will determine real returns for shareholders.