Choice Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of Public Shareholders of PH Capital Ltd ("Target Company").
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Mr. Aditya Himmat Bhansali has issued a Letter of Offer to acquire up to 7,80,026 equity shares (26% of voting capital) of P.H. Capital Ltd at ₹206.66 per share. This open offer has been triggered under SEBI SAST Regulations following a Share Purchase Agreement (SPA) to acquire 72.70% stake (21,81,200 shares) from the existing promoters at the same price. The maximum open offer consideration is ₹16.12 crore. The tendering period runs from May 19, 2026 to June 2, 2026. BSE and SEBI have already granted prior approval for the change in control since the target is a registered stockbroker requiring regulatory clearance. The offer is not conditional on minimum acceptance and if oversubscribed, shares will be accepted on a proportionate basis.
Public shareholders of P.H. Capital Ltd now have an exit opportunity at ₹206.66 per share. The acquisition will result in a change of control, with the acquirer holding potentially up to 98.70% post-offer (72.70% via SPA + 26% via open offer). Shareholders should carefully evaluate participation considering the limited public float post-acquisition and the company's status as a stockbroker requiring ongoing regulatory approvals.