Company informs about the copy of Detailed Public Statement received from Choice Capital Advisors Private Limited in relation to open offer to public shareholders
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PH Capital Ltd has disclosed receipt of a Detailed Public Statement for an open offer triggered by Mr. Aditya Himmat Bhansali to acquire 26% (7,80,026 shares) of voting capital from public shareholders at ₹206.66 per share, with maximum consideration of about ₹16.12 crore. The offer follows a Share Purchase Agreement dated December 20, 2025, under which the acquirer is buying 72.70% (21,81,200 shares) from existing promoters and promoter group entities for ₹206.66 per share, aggregating roughly ₹45.08 crore. This will result in a complete change of control, with Mr. Bhansali being reclassified as the new promoter under SEBI LODR Regulations. The acquirer, a lawyer with a net worth of about ₹69.34 crore, has stated no intention to delist the company and will ensure minimum public shareholding compliance. The company's board will issue a recommendation from independent directors before the tendering period opens.
Public shareholders of PH Capital can tender their shares at ₹206.66 per share in cash during the open offer window, which represents a meaningful premium for a small-cap BSE-listed stock broking firm. The change of control and entry of a new promoter could bring strategic shifts, though the acquirer has indicated intent to expand the business while maintaining its listing.