Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post-Offer Advertisement to the Public Shareholders of PFL Infotech Ltd ("Target Company").
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Awaiting price reaction for this filing.
PFL Infotech Ltd's Post-Offer Advertisement reveals an extremely poor response to the Open Offer made by Mr. Parma Nand Chand at ₹2.00 per share. Out of 19,44,306 offer shares (26% of voting capital) put up for acquisition, only 10 shares were actually tendered by public shareholders — a near-total rejection. The offer ran from July 18 to July 31, 2025, with payment completed on August 7, 2025. Alongside the open offer, the acquirer did purchase 4,85,730 shares (6.50%) from selling promoter shareholders via a Share Purchase Agreement at ₹2.00 per share. As a result, the acquirer's post-offer shareholding stands at just 6.50%, far below the proposed 32.50%, meaning the takeover attempt to gain majority control has effectively failed.
Public shareholders overwhelmingly rejected the ₹2.00 offer price, suggesting they valued their shares higher. The acquirer has failed to secure meaningful control of PFL Infotech through the open offer route and will likely need to re-evaluate the deal or negotiate directly with shareholders to increase his stake.