Swaraj Shares and Securities Pvt. Ltd. ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Rishab Special Yarns Ltd ("Target Company").
Awaiting price reaction for this filing.
An open offer has been formally launched for Rishab Special Yarns Ltd by Mr. Vatsal Agarwaal (Acquirer 1), Nextera Global Private Limited (Acquirer 2), and PAC Ms. Manavika Agarwal. They are offering to buy up to 9,25,782 shares (26% of voting capital) from public shareholders at ₹13.00 per share, aggregating to a maximum consideration of about ₹1.20 crore. The offer was triggered by two underlying transactions: an indirect acquisition of control in March 2023 via allotment of 25 lakh shares to Nextera Global, and a direct Share Purchase Agreement dated October 17, 2024, where Acquirer 1 bought 15,74,970 shares (44.23%) from selling promoters at ₹10 per share. The ₹13.00 offer price includes 10% annual interest from FY 2022-23 as required under SEBI rules. The tendering window runs from November 14, 2025 to November 27, 2025.
Public shareholders of Rishab Special Yarns have a clear exit window at ₹13.00 per share between November 14-27, 2025. The offer is unconditional and non-competing, but the price reflects the low-value nature of this small-cap stock, and shareholders should weigh the offer against prevailing market prices and the change-of-control implications for future prospects.