Fintellectual Corporate Advisors Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement ("PA") under Regulations 3(1) and Regulations 4 read with Regulations ....
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Walking Tree Technologies Private Limited is making an open offer to buy up to 9,34,400 equity shares (26.02% of voting capital) of Octaware Technologies at ₹30 per share, totaling about ₹2.80 crore. This offer was triggered because the acquirer signed a Share Purchase Agreement on August 12, 2025 with promoter Mohammed Aslam Qudratullah Khan to purchase 12,48,000 shares (34.76% stake) at ₹25 per share, aggregating ₹3.12 crore. After the deal and full open offer acceptance, Walking Tree's holding in Octaware will rise from 11.14% to 71.92%, giving it joint control and promoter status. The acquirer has clarified there is no intention to delist the company. Octaware is listed on the SME platform of BSE (Scrip Code: 540416).
Public shareholders can tender their shares at ₹30 each during the offer window. The change in control to a new promoter group (Walking Tree) could signal a potential shift in business direction, though the acquirer has not announced any specific plans yet.