Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Premier Capital Services Ltd ("Target Company").
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Swaraj Shares and Securities Pvt Ltd, the Manager to the Offer, has submitted the Letter of Offer to BSE for an open offer on Premier Capital Services Ltd by three acquirers — Mr. Hitesh Kothari, M/s Hitesh Kothari HUF, and M/s Hargo Enterprise Pvt Ltd. The open offer is for up to 96,35,840 shares (26% of voting share capital) at ₹5.65 per share, totalling about ₹5.44 crore, triggered under SEBI (Substantial Acquisition and Takeover) Regulations 3(1) and 4 due to a Share Purchase Agreement (SPA) to buy 33.16% from promoter Pumarth Infrastructure Pvt Ltd at the same price (₹6.94 crore). The offer opens on September 4, 2025 and closes on September 18, 2025. Critically, the document notes that the SPA has been terminated by the selling promoter shareholder, and the acquirers are seeking legal opinion on the matter, creating uncertainty around the underlying change-of-control transaction.
Eligible public shareholders can tender their shares at ₹5.65 between September 4–18, 2025. However, the termination of the underlying SPA by the selling promoter — which the acquirers are contesting — introduces significant uncertainty about whether the change of control will ultimately occur, which could weigh on the stock price and the offer's completion.