We wish to inform you that we are in receipt of enclosed Letter of Offer issued Walking Tree Technologies Private Limited in relation to Open Offer to the Public Shareholders of Octaware ....
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Octaware Technologies Ltd (BSE SME, Scrip Code: 540416) has informed the exchange about receiving the Letter of Offer for an Open Offer from Walking Tree Technologies Private Limited (Hyderabad-based). The Open Offer is to acquire up to 9,34,400 equity shares (26.02% of voting share capital) from public shareholders at ₹30 per share, aggregating to roughly ₹2.80 crore. This Open Offer follows a Share Purchase Agreement dated August 12, 2025, under which promoter Mohammed Aslam Qudratullah Khan is selling 12,48,000 shares (34.76% stake) to Walking Tree Technologies at ₹25 per share, totalling ₹3.12 crore. Post-deal, Walking Tree Technologies (owned by Pradeep Lavania and Alok Ranjan) will become a joint promoter with joint control of the company. The acquirer already holds 4,00,000 shares (11.14%) bought in the open market on August 5, 2025 at ₹25.46/share. The tendering period runs from November 28, 2025 to December 11, 2025.
Public shareholders can tender their shares at ₹30 between Nov 28 and Dec 11, 2025. Post-acquisition, Walking Tree Technologies will hold a controlling stake and become a joint promoter, which may lead to board reconstitution and a possible delisting risk since public shareholding may fall below the mandatory 25% threshold.