Sobhagya Capital Options Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement in accordance with the provisions of Regulations 3(2) and 3(3) read ....
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The open offer was triggered because the Acquirers (part of the promoter/promoter group) purchased 32,51,200 equity shares of Rikhav Securities Ltd at an average price of Rs. 39.23 per share through stock exchange transactions, exceeding the 5% creeping acquisition limit in one financial year. The offer aims to acquire up to 99,55,920 shares (26% of voting capital) at Rs. 47.75 per share, totaling approximately Rs. 47.54 crore. The promoter group currently holds 64.05% of shares, and together with Acquirers and PACs, holds 72.53% of voting rights. The offer is being made to comply with SEBI (SAST) Regulations 3(2) and 3(3). Financial arrangements include credit facility from Total Holding and Finvest Pvt Ltd and Rs. 11.90 crore in escrow. The tendering period is from June 15, 2026 to June 29, 2026.
This is a regulatory open offer triggered by promoter group acquisitions exceeding the creeping acquisition limit. Public shareholders have an opportunity to exit at Rs. 47.75 per share. The offer is not expected to result in change of control as Acquirers are part of the existing promoter group.