Marwadi Chandarana Intermediaries Brokers Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Draft Letter of Offer to the public shareholders of Hari Govind International ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
A Draft Letter of Offer has been filed with SEBI and submitted to BSE for an open offer on Hari Govind International Limited (BSE: 531971). The offer is triggered by Mr. Shaju Thomas and Mrs. Linta Purayidathil Jose acquiring control via a Share Purchase Agreement to buy 30 lakh equity shares (60% of existing capital) from current promoters Jugal Kishore Maniyar and Sunita Maniyar at Rs. 10 per share, totaling Rs. 3 crore. They will also receive 15 lakh shares via a preferential allotment at Rs. 10 per share (Rs. 1.5 crore). The open offer invites public shareholders to tender up to 22,81,500 shares (26% of expanded share capital) at Rs. 10 per share in cash, with a maximum consideration of about Rs. 2.28 crore. The offer opens on July 4, 2025 and closes on July 17, 2025. Post-completion, the existing promoters will be declassified and the acquirers will become the new promoters of the company.
Public shareholders of Hari Govind International can tender their shares at Rs. 10 each during the tendering window if they wish to exit. The acquisition signals a change in control and a management/promoter shift, though the offer price equals face value with no premium, suggesting shareholders may want to weigh the offer against holding for future growth, which the acquirers say will be driven by new retail store expansion.