Srujan Alpha Capital Advisors LLP ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer ("LOF") to Public Shareholders RSC International Limited ("Target Company")
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Srujan Alpha Capital Advisors LLP, the Manager to the Open Offer, has submitted the Letter of Offer (LOF) to BSE for the proposed acquisition of shares in RSC International Ltd. Mr. Shailesh Agrawal and Mr. Ramji Das Agarwal (the Acquirers) are making a mandatory open offer to buy up to 14,94,922 equity shares (26% of voting capital) from public shareholders at Rs. 9.50 per share, aggregating to Rs. 1.42 crore. The open offer follows a Share Purchase Agreement dated January 20, 2025, under which the Acquirers will purchase 21,30,678 shares (37.06%) from existing promoters at the same price of Rs. 9.50, for a total of Rs. 2.02 crore. Post the transaction, the Acquirers will become the new promoters of RSC International Ltd, and public shareholding is expected to stand at 36.95%. The tendering period is scheduled from June 17, 2025 to July 1, 2025.
Existing public shareholders can tender their shares at Rs. 9.50 per share during the offer window (June 17 – July 1, 2025) or choose to hold. The change in promoters and acquisition of control may signal a shift in the company's strategic direction. Acceptance will be on a proportionate basis if oversubscribed, and shares tendered cannot be withdrawn.