Dear Sir/Madam, We wish to inform you that we are in receipt of enclosed Draft Letter of offer issued by Vivro Financial Services Private Limited in relation to the Open Offer to the ....
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Shree Pacetronix Limited has informed BSE about the receipt of the Draft Letter of Offer from Vivro Financial Services for a mandatory Open Offer triggered under SEBI (SAST) Regulations. The Open Offer is being made by Akash Sethi (Acquirer) along with Atul Kumar Sethi, Amita Sethi, and Ashish Sethi (Persons Acting in Concert), who are the existing promoters of the company. The trigger is a Securities Subscription Agreement for a preferential allotment of 75,150 equity shares and 2,25,450 convertible warrants (Series A and B) at ₹81 per share, representing 7.71% of the fully diluted equity capital for a total of ₹2.43 crore. Following the preferential issue and Open Offer, the promoter group's combined shareholding will rise from 24.25% to 55.09% of the fully diluted equity capital. The Open Offer is for up to 9,75,000 equity shares (26% of expanded capital) at ₹100 per share, aggregating to ₹9.75 crore in cash.
This is a promoter-led consolidation rather than a third-party takeover — existing promoters Akash Sethi (son) and family are increasing their controlling stake from about 24% to over 55%. Public shareholders get an exit opportunity at ₹100 per share during the tendering window from October 3 to October 16, 2025. The offer price of ₹100 represents a premium over the preferential allotment price of ₹81, which may support the stock price near term, though post-offer liquidity could be lower due to higher promoter concentration.