Synfinx Capital Private Limited ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4 read with Regulations 13, 14 and 15(1) of the Securities ....
Awaiting price reaction for this filing.
Kolli Murali Krishna and Gogineni Srinivas have entered into a Share Purchase Agreement to acquire 62.90% stake (31,76,300 shares) from existing promoters of Senthil Infotek Limited for ₹1,74,69,650. This substantial acquisition has triggered a mandatory open offer under SEBI regulations. The acquirers are now offering ₹8 per share to public shareholders for up to 13,13,000 shares representing 26% of voting capital, aggregating ₹1,05,04,000. After the underlying transaction and assuming full acceptance of the open offer, the acquirers will hold 88.90% of the company. The existing promoters will exit and be reclassified from promoter to public category. The offer is not conditional on minimum acceptance and acquirers have no intention to delist the company.
Existing public shareholders have an opportunity to exit at ₹8 per share. The stock may see increased volatility as the open offer proceeds. The change in promoter group and substantial acquisition may trigger re-rating or trading interest given the change in control.