Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13(1), 14 and 15(1) of the ....
Awaiting price reaction for this filing.
Mr. Sreeram Reddy Vanga has triggered a mandatory open offer to buy up to 7,11,000 equity shares (26.13% of emerging voting share capital) of BSE-listed Photon Capital Advisors Limited at ₹115 per share, for a maximum total consideration of about ₹8.18 crore. The offer follows a Share Purchase Agreement signed on January 20, 2026, under which the acquirer will purchase 9,97,000 shares (36.64%) from six existing promoter/promoter group sellers for about ₹11.46 crore. The acquirer will also receive a preferential allotment of 4,85,000 equity shares and 9,90,000 convertible warrants at ₹115 each, bringing his total post-transaction holding to about 54.47%. This will result in a complete change of control, with the current promoters being declassified after the open offer process concludes.
Shareholders get a fixed cash exit opportunity at ₹115 per share through the tendering process, though the stock is classified as infrequently traded on BSE, meaning ₹115 is the floor reference price. The deal signals a change of ownership and management of the listed company, which could lead to shifts in business direction going forward.