Newspaper Publication of "Reminder Advertisement" with regard to open offer to the public shareholders of the Company.
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Pharmaids Pharmaceuticals Limited has published a reminder advertisement in newspapers regarding an open offer to its public shareholders. The offer is being made by Shankarappa Nagaraja Vinaya Babu (Acquirer) along with Tumkur Trade Center Private Limited (PAC) to acquire up to 91,69,632 equity shares at Rs. 62.15 per share. This represents 26.00% of the voting share capital, with a total offer size of approximately Rs. 56.99 crores. The reminder advertisement was published on August 7, 2025 across Financial Express (English), Jansatta (Hindi), Navshakti (Marathi - Mumbai), and Udaykala (Kannada - Bangalore). Saffron Capital Advisors Private Limited is acting as the Manager to the Open Offer under SEBI Takeover Regulations, 2011.
Public shareholders have the option to tender their shares at Rs. 62.15 per share through the open offer, providing a defined exit price. The stock may trade closer to the offer price as the open offer window progresses, though acceptance depends on shareholder participation.