Please find attached the Public Announcement as received by the Company
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P H Capital Ltd has received a Public Announcement dated December 20, 2025, for a mandatory open offer by Mr. Aditya Himmat Bhansali. The Acquirer has signed a Share Purchase Agreement to buy 21,81,200 equity shares (72.70% of voting capital) from the existing promoter group at ₹206.66 per share, totaling about ₹45.08 crore. As a result, a triggered open offer is being made to public shareholders for up to 7,80,026 shares (26% of voting capital) at the same price of ₹206.66 per share, with a maximum payout of about ₹16.12 crore. The selling promoters include Rikeen Pradip Dalal (HUF), Sejal Rikeen Dalal, Tej Pradip Dalal, Sujalbhai Palkhiwala, Ruby Multimedia Pvt Ltd, Krishna Trust, and Tirupati Trust. Post-offer, the Acquirer is expected to hold 98.71% of the company and become the new promoter, while confirming no intention to delist the stock.
This is a change-of-control transaction with the Acquirer set to become the new promoter. Public shareholders get a clear exit window at ₹206.66 per share in cash, which will likely act as a floor for the stock price in the near term. The stock may trade near the offer price as the tendering period approaches.