Fintellectual Corporate Advisors Pvt. Ltd. ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer to the public shareholders of Octaware Technologies Ltd ("Target Company").
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Walking Tree Technologies Private Limited (the Acquirer, based in Hyderabad) is making an open offer to public shareholders of Octaware Technologies Ltd (BSE SME platform, Scrip Code: 540416) to acquire up to 9,34,400 equity shares (26.02% of voting capital) at ₹30 per share, payable in cash. This offer is triggered by a Share Purchase Agreement dated August 12, 2025, under which the Acquirer is buying 12,48,000 shares (34.76%) from promoter Mohammed Aslam Qudratullah Khan at a negotiated price of ₹25 per share (total ₹3.12 crore). Post-transaction, the Acquirer and its UBOs (Pradeep Lavania and Alok Ranjan, 50-50 owners) will become joint promoters of Octaware. The tendering period runs from November 28, 2025 to December 11, 2025, with payment to be completed by December 26, 2025. The Acquirer's stated objective is to revive Octaware's IT business performance and grow the company, and the public shareholding may fall below the mandatory 25% minimum after completion.
Public shareholders can tender their shares at ₹30 each, a 20% premium over the negotiated SPA price of ₹25. Post-offer, the stock may see reduced liquidity since public shareholding is likely to drop below the 25% minimum threshold, requiring the Acquirer to restore it within prescribed timelines.