Disclosure under Regulation 30 and Regulation 30A of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI" (LODR) Regulations")
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Octaware Technologies' promoter Mohammed Aslam Qudratullah Khan has signed a Share Purchase Agreement dated August 12, 2025 to sell 12,48,000 equity shares (34.76% of voting capital) to Walking Tree Technologies Private Limited. The buyer currently holds 4,00,000 shares (11.14%), while the promoter holds 19,65,224 shares (54.73%) before the deal. Once completed, Walking Tree Technologies will acquire joint control over the company and be reclassified as a Promoter under SEBI LODR rules. The transaction will also trigger a mandatory Open Offer to public shareholders under SEBI (SAST) Regulations, 2011. The listed entity itself is not a party to the agreement, and the deal is not a related-party transaction.
Existing public shareholders will get an opportunity to tender shares in the forthcoming open offer, potentially at a premium. The change in control to joint promoter status with Walking Tree Technologies could bring new strategic direction but also introduces uncertainty around future management decisions.