Corporate Professionals Capital Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Equity Shareholder(s) of NDA Securities Ltd ("Target Company").
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Manager to the Offer Corporate Professionals Capital Pvt Ltd has submitted the Letter of Offer to BSE for an open offer by Mr. Ram Gopal Jindal (Acquirer) along with Mr. Gaurav Jindal (PAC) to acquire up to 15,46,575 equity shares (26% of paid-up capital) of NDA Securities Ltd at ₹30.59 per share in cash, which includes ₹2.59 interest at 10% per annum for delay. The offer opens on April 16, 2025 and closes on April 30, 2025. This is a mandatory open offer triggered under SEBI Takeover Regulations because the Acquirer signed a Share Purchase Agreement on February 1, 2024 to buy 48.56% stake from existing promoters at ₹28 per share. Post-offer, the Acquirer and PAC's combined holding will rise from 10.26% to 84.82% of the company.
Public shareholders can tender shares at ₹30.59 during the offer window (April 16-30, 2025). After the offer, public shareholding will fall to about 15.17%, below the mandatory 25% minimum, which may lead to reduced liquidity and potential delisting actions. Shareholders who do not tender may end up as minority holders in a company with concentrated promoter control.