Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Pre-offer Advertisement and Corrigendum to the Detailed Public Statement and the Letter of Offer ....
Awaiting price reaction for this filing.
Swaraj Shares and Securities Pvt Ltd, acting as Manager to the Offer, has filed a Pre-Offer Advertisement and Corrigendum on behalf of June Enterprises Private Limited (the Acquirer) for an Open Offer to public shareholders of Kashyap Tele-Medicines Limited. The Acquirer is offering to buy up to 1,24,07,720 shares (26% of voting share capital) at Rs 1.50 per share in cash, with a maximum total consideration of Rs 1,86,11,580. The offer is triggered by a Share Purchase Agreement signed on March 5, 2025 to acquire 1,68,72,900 shares (35.36%) from five selling promoter shareholders for Rs 2,53,09,350. The corrigendum updates that the Acquirer has already acquired 1,57,66,000 shares (33.04%) from promoters and revises the tendering period to May 29 – June 11, 2025.
For Kashyap Tele-Medicines Limited public shareholders: this confirms an ongoing open offer to tender shares at Rs 1.50 each, with the acquirer already holding 33.04% and potentially rising to 61.36% post-offer, signaling a change in control. The Independent Directors' Committee has deemed the offer price fair and reasonable. The very low offer price suggests this is likely a small, low-float company and shareholders should evaluate whether to tender based on their own price expectations.