Open Offer - Public Announcement
Awaiting price reaction for this filing.
Two individuals (Mr. Amarandhar Reddy Kotha and Mr. Mallour Rajesh Kumar) have triggered an open offer to acquire up to 26% of Dolphin Medical Services Ltd from public shareholders at ₹4.80 per share. This follows their Share Purchase Agreement dated May 15, 2026 to buy 20.95% stake (31.63 lakh shares) from the existing promoters (Mr. Gude Venkata Mohan Prasad and Mrs. Lakshmi Sudha Madala) for ₹56.94 lakh in cash. The open offer itself involves up to 39.26 lakh shares worth approximately ₹1.88 crore. Upon completing both transactions with full acceptance, the acquirers would own about 47% of the company and become its new promoters, taking control from the current promoters who are exiting completely.
Existing promoters are selling their entire 20.95% stake and exiting the company, resulting in a complete change of control. Shareholders holding approximately 46.96% of the company post-transaction may face increased concentration. The offer price of ₹4.80 per share represents the acquisition cost for minority shareholders.