Systematix Corporate Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the public shareholders of Dugar Housing Developments Ltd ("Target Company").
Awaiting price reaction for this filing.
Axentra Corp Ltd has submitted a copy of the Letter of Offer to BSE for an open offer made by Mr. Vinoth Kumar Mohanadas and Mrs. Suseela Kumarappan (Sri Lanka-based acquirers) to buy up to 30,94,000 equity shares of Dugar Housing Developments Ltd, equal to 31.90% of its fully diluted share capital, at ₹12 per share in cash. This is a mandatory open offer triggered under SEBI (SAST) Regulations because the acquirers have entered a Share Purchase Agreement for 97,949 shares and received preferential allotments totaling 59 lakh shares, which together will give them control of the target company. SEBI cleared the Draft Letter of Offer on September 19, 2025, after the timeline was pushed back from the original June 2025 schedule. Public shareholders can tender their shares between October 6, 2025 and October 17, 2025.
Shareholders of Dugar Housing Developments get a clear exit opportunity at ₹12 per share during the 10-day tendering window. Post-offer, the acquirers will take over as promoters, meaning changes in board composition, strategy, and management of the target company are likely.