Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Offer Opening Public Announcement to the Shareholders of Sita Enterprises Ltd ("Target Company").
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Awaiting price reaction for this filing.
Navigant Corporate Advisors has filed a Pre-Offer Advertisement for an open offer to acquire up to 7,50,000 equity shares (25% of paid-up capital) of Sita Enterprises Ltd from Mr. Jitendra Rasiklal Sanghavi. The offer price is Rs. 92.50 per share (including 10% annual interest for delayed payment), payable in cash. RBI approval for the change in management and control was received on July 2, 2025, which triggered the revised offer timeline. The open offer is scheduled to open on July 18, 2025 and close on July 31, 2025, with payment of consideration by August 14, 2025. The Independent Directors Committee has recommended the offer price as justified, and no competitive bid has been received.
Existing public shareholders of Sita Enterprises can tender their shares at Rs. 92.50 each between July 18–31, 2025. The RBI-approved change in control signals a potential shift in the company's management, which may influence stock price sentiment near the offer window.