Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post-Offer Public Announcement to the eligible shareholders of Premier Capital Services Ltd ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Swaraj Shares and Securities, acting as Manager to the Offer, has submitted the Post-Offer Public Announcement for an open offer made by Mr. Hitesh Kothari, Hitesh Kothari HUF, and Hargo Enterprise Pvt Ltd to acquire up to 96,35,840 shares (26% of voting capital) of Premier Capital Services Ltd from public shareholders at ₹5.65 per share, totaling a maximum consideration of about ₹5.44 crore. Notably, the underlying Share Purchase Agreement dated February 14, 2025, under which the Acquirers were to buy 33.16% from selling promoter Pumarth Infrastructure Pvt Ltd for about ₹6.94 crore, was terminated by the selling promoter, and the Acquirers have triggered arbitration. Despite this, the open offer still proceeded; however, only 8,050 shares (0.02%) were actually tendered by public shareholders against the 96,35,840 shares offered.
The very low tendering (only 0.02% of target shares) suggests public shareholders showed little interest at the ₹5.65 offer price. The termination of the Share Purchase Agreement and pending arbitration inject uncertainty into whether the Acquirers will become promoters of the company, potentially creating volatility and overhang on the stock.