Swaraj Shares and Securities Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Pre-Offer Advertisement and Corrigendum to the Detailed Public Statement under Regulation ....
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Hathor Corporate Advisors LLP (Acquirer) along with Plutus Capital Management LLP (Person Acting in Concert) have made an Open Offer to acquire up to 5,47,700 shares, representing 26% of the voting share capital, from public shareholders of Kuberan Global Edu Solutions Ltd. The offer price is fixed at ₹18 per share, with maximum consideration of ₹98,58,600 payable in cash. The open offer is triggered by a Share Purchase Agreement dated October 30, 2024, under which the Acquirer agreed to purchase 13,67,657 shares (64.92% of voting capital) from the existing promoters at ₹17 per share, aggregating to ₹2,32,50,169. The Pre-Offer Advertisement was published on April 17, 2025, in Financial Express, Jansatta, Mumbai Lakshadeep, and Makkal Kural newspapers.
This signals a change in control of the company, with new acquirers taking over the promoter stake at ₹17/share and offering public shareholders a tender opportunity at ₹18/share. Public shareholders can choose to tender their shares at the offer price during the open offer window. The marginal ₹1 premium over the promoter sale price may attract arbitrage interest, while the overall transaction represents a complete promoter exit and fresh ownership change.