Rarever Financial Advisors Private Limited (hereafter referred to as "Manager to the Offer") are herby submitting the Public Announcement made by us on behalf of Mr Amarandhar Reddy Kotha ....
Awaiting price reaction for this filing.
Mr. Amarandhar Reddy Kotha and Mr. Mallour Rajesh Kumar (Acquirers) have made a public announcement to acquire up to 39,25,988 equity shares representing 26% of Dolphin Medical Services Ltd at ₹4.80 per share. This open offer was triggered by a Share Purchase Agreement dated May 15, 2026, where the Acquirers agreed to purchase 31,63,390 shares (20.95%) from existing promoters Mr. Gude Venkata Mohan Prasad and Mrs. Lakshmi Sudha Madala for ₹56,94,102 in cash. After the SPA and assuming full acceptance of the open offer, the Acquirers will hold 46.96% of voting share capital and become the new promoters. The total consideration for the open offer is ₹1,88,44,743 payable in cash. The existing promoters will exit completely and be reclassified from the promoter category.
This is a change of control transaction where new promoters are taking over Dolphin Medical Services. Existing shareholders have the opportunity to tender their shares at ₹4.80. The stock may see increased volatility due to the change in management and potential delisting of promoter holdings.