Rarever Financial Advisors Private Limited (hereafter referred to as 'Manager to the Offer'), are hereby submitting the Detailed Public Statement made by us on behalf of Mr. Amarandhar ....
Awaiting price reaction for this filing.
Mr. Amarandhar Reddy Kotha and Mr. Mallour Rajesh Kumar (Acquirers) have issued a Detailed Public Statement for a mandatory open offer to acquire up to 39,25,988 equity shares representing 26% of voting capital of Dolphin Medical Services Limited at ₹4.80 per share. The total consideration payable under the offer is ₹1,88,44,743. This open offer is triggered by a Share Purchase Agreement dated May 15, 2026, where the Acquirers agreed to purchase 20.95% stake (31,63,390 shares) from promoter sellers Mr. Gude Venkata Mohan Prasad and Mrs. Lakshmi Sudha Madala at ₹1.80 per share. Assuming full acceptance, the Acquirers will hold approximately 46.96% of the company, becoming its new promoters. The tendering period is scheduled from July 9 to July 22, 2026.
This open offer will result in a change of control and promoter status for Dolphin Medical Services. Existing public shareholders have an opportunity to exit at ₹4.80 per share, which is 2.67 times the negotiated SPA price of ₹1.80. The company's trading is currently suspended on BSE every Monday due to unpaid ALF dues.