Aryaman Financial Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Equity Shareholders of Net Pix Shorts Digital Media ....
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Aryaman Financial Services Ltd, acting as Manager to the Offer, has filed the Draft Letter of Offer with BSE on behalf of Mr. Ritesh Tiwari and Mrs. Alka Tiwari (husband and wife) for a mandatory open offer to acquire 8,32,016 equity shares (26% of equity capital) of Net Pix Shorts Digital Media Ltd at ₹32 per share in cash. This open offer is triggered by a Share Purchase Agreement signed on December 15, 2025, where the acquirers will purchase 23,00,000 shares (71.87%) from existing promoter Danish Zakaria Aghadi at ₹30 per share, totalling ₹6.90 crore. Post-offer, the acquirers will hold 97.87% of the company, leading to a change of control. Net Pix is a small-cap SME-listed digital media company on BSE (Scrip Code: 543247) with declining revenues (₹57.97 lakh in FY23 to ₹47.31 lakh in FY25) and net losses in FY23 and FY25. The open offer window runs from February 6 to February 20, 2026, and shares were last traded on July 25, 2025 at ₹32.
This is a change-of-control transaction with a mandatory open offer. Shareholders can tender shares at ₹32 during the February 6-20, 2026 window. Post-offer, public shareholding will fall to just 2.13%, meaning the stock may face delisting risk or continued illiquidity on the SME platform. The acquirers have indicated no major changes to the existing business but will take management control.