D & A Financial Services (P) Ltd ("Manager to the Offer) has submitted to BSE a copy of Post Offer Advertisement to the Shareholders of Switching Technologies Gunther Ltd ("Target Company").
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The acquirers (BBU Enterprises Pvt Ltd, Touristas Horizons Pvt Ltd, and Nikhil Pujari) have completed an open offer for Switching Technologies Gunther Limited (STGL). The offer was open from April 16 to April 29, 2026. Out of the proposed 6,37,000 shares, 5,05,722 shares (79.4% of target) were tendered and accepted at Rs. 66 per share, totaling Rs. 3.33 crore. Combined with 9,22,000 shares (37.63%) already held via share purchase agreements, the acquirers now hold 14,27,722 shares representing 58.27% of the target company. Public shareholding has dropped from 62.37% to 41.73%, falling below the minimum public shareholding norm of 25%.
Post-offer shareholding at 58.27% indicates control has passed to the new acquirers. However, public shareholding at 41.73% is above the delisting threshold, so the company remains listed. The offer was undersubscribed by ~20.6%, suggesting limited retail participation.