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 Kashyap Tele-Medicines Ltd ("Target Company").
Awaiting price reaction for this filing.
M/s June Enterprises Private Limited has launched an open offer to buy up to 1,24,07,720 equity shares (26% of voting capital) of Kashyap Tele-Medicines Limited from public shareholders at ₹1.50 per share, payable in cash, with a maximum total consideration of around ₹1.86 crore. The offer is triggered under SEBI Takeover Regulations after June Enterprises signed a Share Purchase Agreement on March 5, 2025 to acquire 1,68,72,900 shares (35.35% stake) from five selling promoter shareholders for about ₹2.53 crore at the same ₹1.50 price, resulting in a change of control. The tendering window opens on May 29, 2025 and closes on June 11, 2025, and the offer is not conditional on a minimum level of acceptance. Swaraj Shares and Securities Private Limited is acting as the Manager to the Offer, and Integrated Registry Management Services is the Registrar.
This is a mandatory open offer that gives public shareholders of Kashyap Tele-Medicines a direct exit opportunity at ₹1.50 per share. Shareholders should weigh the low offer price against prevailing market levels and note that acceptance is on a proportionate basis if oversubscribed; control of the company is shifting to June Enterprises.