Pre offer advertisement issued by Manager to the Open Offer on behalf of Dr. Shankarappa Nagaraja Vinaya Babu ("Acquirer") along with Tumkur Trade Center Private Limited ("PAC") in relation ....
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Pharmaids Pharmaceuticals has submitted a pre-offer advertisement to BSE regarding an open offer for its shares. The acquirer is Dr. Shankarappa Nagaraja Vinaya Babu, along with Tumkur Trade Center Private Limited acting as a person acting in concert (PAC). The offer is to acquire up to 91,69,632 equity shares, representing 26% of the voting share capital, at Rs. 62.15 per share, totalling around Rs. 56.99 crore. The advertisement was published on August 1, 2025 in Financial Express (English), Jansatta (Hindi), Navshakti (Marathi), and Udaykala (Kannada). Saffron Capital Advisors is managing the offer, filed under Regulation 18(7) of the SEBI Takeover Code.
Public shareholders can tender their shares at Rs. 62.15 per share if they wish to exit. The 26% open offer size signals a significant change in ownership, which may attract short-term price movement around the offer price. Shareholders should review the detailed public statement for any conditions attached to the offer.