Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement for the attention of the Equity Shareholders of Kratos Energy & Infrastructure ....
Awaiting price reaction for this filing.
Mr. Sachidanand Hariram Upadhyay (the Acquirer) has triggered a mandatory Open Offer to buy up to 2,60,000 equity shares (26% of paid-up capital) of Lords Mark India Limited at Rs. 30 per share, totalling Rs. 78 lakhs in maximum consideration. This follows a Share Purchase Agreement signed on June 3, 2025 with El'Dorado Guarantee Limited (the existing promoter) to acquire 4,90,051 shares (49.01% stake) at the same Rs. 30 price. Post-offer, the Acquirer would hold 75.01% of the company and gain management control, including intent to reconstitute the board. The Acquirer has a certified net worth of Rs. 8,347.30 lakhs and has deposited Rs. 78 lakhs as escrow with Kotak Mahindra Bank. The Open Offer opens on July 24, 2025 and closes on August 6, 2025.
Public shareholders can tender their shares at the guaranteed offer price of Rs. 30 per share, providing a clear exit floor in a stock that is infrequently traded on BSE. The change of control and likely board reconstitution could introduce new strategic direction for the loss-making company, which reported a Rs. 672.89 lakh loss in FY25.