Saffron Capital Advisors Pvt. Ltd. ("Manager to the Open 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 ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Saffron Capital Advisors, acting as Manager to the Open Offer, has submitted a Public Announcement for an open offer to acquire up to 70,00,000 equity shares (12.04% of emerging voting share capital) of Tejassvi Aaharam Limited. The offer price is ₹10 per share, aggregating to up to ₹7 crore, payable in cash. The offer has been triggered by a proposed preferential issue of 5,11,62,204 shares via a share swap arrangement to acquire Funk Foods Private Limited (the Transferor Company), resulting in the acquirers and PAC jointly holding 72.55% of the emerging voting share capital. The acquirers are Prasanna Natarajan, Rajat Chakra Credit & Holdings Pvt Ltd, Sipping Spirits Pvt Ltd, and Saranga Investments & Consultancy Pvt Ltd, along with Rajalakshmi Natarajan as PAC. Post-transaction, the acquirers will gain management control and become part of the promoter group.
Existing public shareholders (holding 12.04% of emerging voting share capital) will have the option to tender their shares at ₹10 per share in cash. The change in control to the new promoter group may affect the stock's trading dynamics, though the acquirers have no intention to delist the company.