Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of submission of Recommendation of Independent Directors Committee (IDC) to the Public Shareholders ....
Awaiting price reaction for this filing.
Four Acquirers — U G Patwardhan Services Pvt Ltd, Mr. Kaushal Shah, Agri One India Ventures LLP, and Mr. Shantanu Surpure — have made an Open Offer to buy up to 19,50,010 shares (26% of expanded voting capital) of Bijoy Hans Ltd from public shareholders at ₹12.50 per share, amounting to a maximum consideration of about ₹2.44 crore. This open offer follows two agreements signed on December 26, 2024: a Share Purchase Agreement to acquire 2,04,800 shares (2.73%) from the existing Patawari promoter family at ₹12.50/share, and a Share Subscription Agreement for issuance of 45 lakh fresh equity shares (60% of expanded capital) to the Acquirers at ₹12.50/share, bringing in fresh capital of ₹5.63 crore. Together, these deals amount to a significant change of control and substantial capital infusion into the target company. The Independent Directors Committee's recommendation on the offer was published on June 11, 2025 in multiple newspapers including Financial Express and Jansatta.
Public shareholders now have a window to tender shares at ₹12.50 and exit if they choose. The transaction will result in a major change of control at Bijoy Hans Ltd, with the new promoter group acquiring roughly 62.73% combined stake and bringing in ₹5.63 crore of fresh equity, which could materially reshape the company's ownership and future direction.