Swaraj Shares and Securities Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Kuberan Global Edu Solutions Ltd ("Target Company").
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Swaraj Shares and Securities, acting as Manager to the Open Offer, has submitted the Letter of Offer to BSE on behalf of Hathor Corporate Advisors LLP (Acquirer) and Plutus Capital Management LLP (PAC). The open offer is for acquisition of up to 5,47,700 equity shares, representing 26% of the voting share capital of Kuberan Global Edu Solutions Ltd, at an offer price of ₹18 per share, with total maximum consideration of approximately ₹98.59 lakh. This open offer is a mandatory offer triggered under SEBI (SAST) Regulations 3(1) and 4, following a Share Purchase Agreement signed on October 30, 2024, where the Acquirer agreed to buy 13,67,657 shares (64.92% stake) from existing promoters at ₹17 per share, totalling about ₹2.33 crore. The deal involves a change in control and management of the company, which is listed on the BSE SME platform. The tendering period for the open offer runs from April 21, 2025 to May 05, 2025.
For public shareholders of Kuberan Global Edu Solutions, this is a chance to exit at ₹18 per share if they choose to tender. The stock may see increased trading activity and potential price movement during the tendering window. Post-offer, the Acquirer and PAC will gain significant control, with a commitment to restore minimum public shareholding to 25% as required by listing rules.