Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Equity Shareholders of Kratos Energy & Infrastructure ....
Awaiting price reaction for this filing.
A mandatory open offer has been triggered for Lords Mark India Limited (BSE: 501261) under SEBI Takeover Regulations. Mr. Sachidanand Hariram Upadhyay is acquiring 4,90,051 shares (49.01% stake) from the existing promoter E'l Dorado Guarantee Limited at Rs. 30 per share through a Share Purchase Agreement dated June 3, 2025. On top of this, he is making an open offer to public shareholders to buy up to 2,60,000 additional equity shares (26% of paid-up capital) at Rs. 30 per share in cash. Assuming full acceptance, the acquirer's total holding will rise to 75.01% of the company. The offer opens on July 24, 2025 and closes on August 6, 2025. The acquirer's net worth is around Rs. 83.47 crore, and he has placed Rs. 78 lakh (100% of offer consideration) in an escrow account with Kotak Mahindra Bank. The target company has a very small paid-up capital of just Rs. 100 lakh (10 lakh shares of Rs. 10 each).
Public shareholders get a window to exit by tendering their shares at Rs. 30 each between July 24 and August 6, 2025. This is a change-of-control takeover; the acquirer has committed to retain the listing and bring down non-public shareholding to comply with minimum public shareholding rules if it exceeds 75% post-offer.