Navigant Corporate Advisors Ltd. ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulation 3(1), Regulation 4 read with Regulation 15(1) and Regulation ....
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Mr. Saroj Kumar Choudhury, currently Managing Director of Oxford Industries, is acquiring 43.70% of the company (25,97,370 equity shares) from the existing promoter group (the Laila and Dalal families) at roughly Rs. 3.62 per share, totalling about Rs. 94.02 lakhs. Because this crosses the SEBI takeover threshold, a mandatory open offer has been triggered for an additional 26% (up to 15,45,271 shares) from public shareholders at Rs. 5 per share, amounting to Rs. 77.26 lakhs in total cash consideration. After the deal, the Acquirer's holding will rise from 2.76% to 46.46%, giving him clear control of the company. The shares are classified as infrequently traded on BSE, and a Detailed Public Statement is expected by March 20, 2026.
This represents a change of control at Oxford Industries, with the existing promoter family fully exiting. Public shareholders get a chance to tender shares at the open offer price of Rs. 5, but the small float and low absolute offer size suggest limited trading opportunity, while the new controlling shareholder now has the mandate to run the company going forward.