Open Offer to Acquire 26% Stake in Kuber Udyog at Rs 23.35 per Share

Listed Co AcquisitionOpen Offer TriggeredCore Business DivestedStrategic Transactions View source PDF Explain this filing

Price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+5.0%Reaction day

₹25.81

prior close

₹27.10

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%+5.0% vs market

Non Banking Financial Company (NBFC) peers, median of 214sector+0.2%+4.8% vs sector

On the reaction day the stock moved 5.0 pts more than Nifty Microcap 250 and 4.8 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.0

10m

+0.0

15m

+0.0

30m

+0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+5.0-0.1+5.0+0.2+4.8

Next day

+10.2-0.2+10.5+0.0+10.2

+15.7+0.1+15.6-0.2+15.9

+21.5+0.3+21.2+0.0+21.5

+27.5+0.4+27.2-0.0+27.6

+33.9+0.5+33.4-0.6+34.5

+47.6+0.3+47.3-1.1+48.7

15d

+117.8+1.9+116.0-0.4+118.3

+91.8+2.2+89.6-1.5+93.3

+170.3-1.2+171.4-4.8+175.1

—————

UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 214Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Three acquirers (Manav Bahri, Dinesh Popli, Ajay Dutta) along with PAC Trimudra Trade and Holdings will make an open offer for up to 3,19,71,680 shares (26 percent of expanded voting share capital) of Kuber Udyog at Rs 23.35 per share, totaling about Rs 74.65 crore in cash. The offer is triggered by a Share Sale and Subscription Agreement under which Kuber Udyog will acquire 100 percent of Golden Ikon Fleet Management by issuing 7,62,85,000 equity shares to the acquirers. Kuber Udyog, currently an NBFC, has applied to RBI to surrender its registration and plans to diversify into fleet management business.

Likely market impact

Change of control at listed Kuber Udyog via share swap with Golden Ikon promoters; public shareholders can tender at Rs 23.35 or hold for business pivot to fleet management.