GFSTEELSNSEGrand Foundry LimitedHighNeutral
Announced Mon, 1 Jun, 2026 · 18:15 IST
Open Offer for Grand Foundry by SAR Televenture at Rs 2.50 per share
Listed-company acquisitionOpen offer triggeredStrategic Transactions View source PDFExplain this filing
Price reaction
Awaiting price reaction for this filing.
AI summary
SAR Televenture is making an open offer for up to 79,11,800 shares (26%) of Grand Foundry at Rs 2.50 per share in cash. This is triggered by a Share Purchase Agreement with promoters Rakesh Kumar Bansal and Gaurav Goyal for 70.17 percent stake at Rs 1.50 per share (total Rs 3.20 crore). Offer runs from June 9 to June 22, 2026. Acquirer is in telecom infrastructure; target is in foundry and steel. The offer price is above the SPA price of Rs 1.50.
Likely market impact
Public shareholders can tender shares at Rs 2.50 till June 22. Change of control and management expected; new broadband business planned.