Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post-offer Public Announcement to the public shareholders of VR Woodart Ltd ("Target Company").
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Swaraj Shares and Securities Pvt Ltd, acting as Manager to the Offer, has filed a Post-Offer Public Announcement for the open offer made by Ms. Minal Patil and Ms. Maddukuri Mounica (Acquirers) to the public shareholders of V.R. Woodart Limited. The offer was for up to 1,06,50,070 shares (26% of expanded voting capital) at ₹22 per share, with a maximum value of about ₹23.43 crore. The offer opened on August 18, 2025, closed on September 1, 2025, and settlement happened on September 9, 2025. All 1,06,50,070 shares tendered were accepted in full, indicating 100% tendering. After the open offer plus the Share Purchase Agreement (2.20%), Preferential Issue (30.32%), and Convertible Warrants (9.96%), the Acquirers will hold 77.24% of the expanded voting capital, triggering a change of control.
This marks a change of control at V.R. Woodart Limited, with the Acquirers now holding about 77% and public shareholders reduced to roughly 23%. Public shareholders who tendered will receive ₹22 per share in cash; remaining public shareholders face a sharply reduced free float and illiquidity going forward.