Vivro Financial Services Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer advertisement in accordance with Regulation 18(12) of the Securities Exchange Board of ....
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Vivro Financial Services, the manager to the offer, has submitted the Post-Offer Advertisement to BSE for the Open Offer by Akash Sethi (acquirer) along with Atul Kumar Sethi, Amita Sethi and Ashish Sethi (PACs). The offer was for up to 9,75,000 equity shares at Rs 100 per share, open from October 31 to November 14, 2025. Only 117 shares were actually tendered and accepted against the targeted 9,75,000, marking a severely undersubscribed offer. Separately, the board allotted 75,150 equity shares and 2,25,450 convertible warrants to the acquirer on November 14, 2025, representing 7.71% of the fully diluted equity capital. Post-offer, the acquirer group holds about 30% of the company, while public shareholding reduced from 75.75% to 69.91%.
The open offer was a near-total failure with negligible public participation, suggesting shareholders did not see Rs 100 as an attractive exit price. However, the acquirer group consolidated control through preferential allotment and warrants, raising their stake meaningfully. Existing minority shareholders retain their holdings with no major exit opportunity triggered.