Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Equity Shareholders of Oxford Industries Ltd ("Target Company").
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The Manager to the Offer (Navigant Corporate Advisors) has submitted the Draft Letter of Offer to BSE for a mandatory open offer to public shareholders of Oxford Industries Ltd (BSE Code: 514414). The offer has been triggered under SEBI Takeover Regulations after Mr. Saroj Kumar Choudhury (currently the Managing Director) signed a Share Purchase Agreement on March 12, 2026 to buy 25,97,370 shares (43.70% stake) from the existing promoter group (the Laila family) at about Rs. 3.62 per share. As part of the deal, he is making an open offer to acquire an additional 15,45,271 shares (26% of equity) from public shareholders at Rs. 5 per share in cash. The offer opens on May 12, 2026 and closes on May 25, 2026. Assuming full acceptance, the acquirer's total holding will rise to 72.46%, and he will become the new promoter with effective control of the company. The shares are classified as infrequently traded on BSE.
This is a change-of-control event for Oxford Industries. Existing promoters (Laila family) are exiting entirely, and the current MD will take over as promoter with over 70% holding post-offer. Public shareholders can choose to tender shares at Rs. 5 per share between May 12 and May 25, 2026, or remain invested. The offer price of Rs. 5 is notably above the negotiated SPA price of Rs. 3.62, but given the shares are infrequently traded, market price discovery may be limited.