Swaraj Shares and Securities Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Post-Offer Public Announcement to the public shareholders of Kuberan Global Edu Solutions ....
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Awaiting price reaction for this filing.
Swaraj Shares and Securities Pvt Ltd, Manager to the Open Offer, has submitted the Post-Offer Public Announcement for Kuberan Global Edu Solutions Ltd to BSE. The Open Offer by Hathor Corporate Advisors LLP (Acquirer) and Plutus Capital Management LLP (PAC) was for up to 5,47,700 shares (26% of voting capital) at Rs.18 per share, totaling Rs.98.59 lakh. The offer ran from April 21 to May 5, 2025, with payment made on May 14, 2025. Only 30,000 shares (1.42%) were actually tendered, resulting in a meagre Rs.5.40 lakh consideration paid versus the proposed amount. Combined with the Share Purchase Agreement that transferred 13,67,657 shares (64.92%) from selling promoters at Rs.17/share, the Acquirer and PAC now hold 15,03,657 shares (71.38%) post-offer. The Acquirer will apply for reclassification as promoters under SEBI LODR Regulations.
Extremely poor public response to the tender (only 1.42% acceptance vs 26% offered) means the control change was driven almost entirely by the promoter stake sale, with very little open-market interest. Post-offer public shareholding has shrunk to 28.62%, reducing float and likely liquidity in the stock while concentrating control with the new Acquirer-PAC group.