Rarever Financial Advisors Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement in terms of Regulation 4 read with Regulations 13(4), 14(3) and 15(2) ....
Awaiting price reaction for this filing.
Two individuals, Mr. Amarandhar Reddy Kotha and Mr. Mallour Rajesh Kumar, are making a mandatory open offer to acquire up to 39,25,988 equity shares (26% of voting capital) of Dolphin Medical Services Ltd at Rs. 4.80 per share in cash. This offer was triggered after the acquirers signed a Share Purchase Agreement on May 15, 2026, to buy 20.95% stake (31,63,390 shares) from the existing promoters at Rs. 1.80 per share. Assuming full acceptance, the total open offer consideration amounts to Rs. 1.88 crore. After completing both the SPA and open offer, the acquirers will hold approximately 46.96% of the company and become its new promoters. The company operates diagnostic centers providing radiology, pathology, and ophthalmic care services. Trading in the stock is currently restricted to Mondays due to suspension over unpaid ALF dues.
This open offer represents a change of control at Dolphin Medical Services, with the new acquirers bringing in capital and presumably new business plans. Shareholders can tender their shares at Rs. 4.80 per share (28% above face value of Rs. 10) during the tendering period from July 9-22, 2026.