Swaraj Shares and Securities Private Limited ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Bijoy Hans Ltd ("Target Company").
Awaiting price reaction for this filing.
Bijoy Hans Ltd has announced a mandatory open offer triggered under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Four acquirers — UG Patwardhan Services Pvt Ltd, Mr. Kaushal Uttam Shah, Agri One India Ventures LLP, and Mr. Shantanu Surpure — are offering to buy up to 19,50,010 shares (26% of expanded voting share capital) from public shareholders at ₹12.50 per share, totalling about ₹2.44 crore. The offer follows a Share Purchase Agreement and Share Subscription Agreement signed on December 26, 2024, under which the acquirers will also get 45 lakh equity shares (60% of expanded share capital) via preferential allotment at ₹12.50 per share, amounting to ₹5.63 crore. The preferential allotment was completed on May 27, 2025, and the existing Patawari family promoters will exit. The tendering period for the open offer runs from June 13 to June 26, 2025.
This open offer signals a change of control at Bijoy Hans Ltd, with new acquirers taking over the majority stake. Existing public shareholders can choose to sell at ₹12.50 per share, while the stock may see price action around the tendering period based on market sentiment. The small offer size (₹2.44 crore) suggests limited float, and shareholders should weigh the offer price against future prospects under the new management.