D & A Financial Services (P) Ltd ("Manager to the Offer) has submitted to BSE a copy of Corrigendum to the Detailed Public Statement for the attention of the Equity Shareholders of Switching ....
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D & A Financial Services, acting as Manager to the Offer, has submitted a corrigendum to the Detailed Public Statement for an open offer to acquire shares of Switching Technologies Gunther Limited. The open offer is being made by three acquirers - BBU Enterprises Private Limited, Touristas Horizons Private Limited, and Mr. Nikhil Pujari - pursuant to SEBI (SAST) Regulations, 2011. The schedule of activities has been revised, with key dates pushed back by approximately 3 weeks. The Identified Date is now March 30, 2026, and the offer closing date is now April 29, 2026. The target company's financials show significant deterioration - it reported losses of Rs 668.97 lakhs for FY March 2025 and has negative net worth of Rs 1281.19 lakhs as of March 2025.
This open offer presents an opportunity for minority shareholders to exit at a price to be determined, though the company's deteriorating financials (increasing losses, negative net worth) may indicate the offer price could be below book value. The significant delay in the schedule suggests possible administrative or market conditions adjustments.