Marwadi Chandarana's open offer for TruCap Finance continues; SAT appeal pending

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

TRU · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+0.1%Reaction day

₹7.33

prior close

₹7.36

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.0%-0.9% vs market

Non Banking Financial Company (NBFC) peers, median of 206sector+0.5%-0.3% vs sector

On the reaction day the stock moved 0.9 pts less than Nifty Microcap 250 and 0.3 pts less than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.0

10m

+0.8

15m

+0.8

30m

+0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.1+1.0-0.9+0.5-0.3

Next day

-1.1+0.5-1.6+0.1-1.2

-8.6-0.0-8.6+0.4-9.0

-6.1-1.5-4.7-0.6-5.5

-7.9-2.2-5.7-0.6-7.3

-4.8-1.2-3.5-1.1-3.6

-4.8-2.4-2.4-1.5-3.3

15d

-13.5-8.8-4.7-6.7-6.8

-11.2-8.3-2.9-6.6-4.6

-18.0-3.5-14.5-4.8-13.2

-11.2+6.4-17.6-1.4-9.8

UpDownMarket · Nifty Microcap 250Sector · Non Banking Financial Company (NBFC) peers, median of 206Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Marwadi Chandarana Intermediaries Brokers (Acquirer) had terminated the Share Purchase Agreement and Securities Subscription Agreement for TruCap Finance shares in September 2025 and sought SEBI's permission to withdraw the open offer. SEBI refused and issued observations on the Draft Letter of Offer on January 30, 2026. The Acquirer has now appealed to the Securities Appellate Tribunal, with hearing scheduled for February 11, 2026. No stay has been granted on the offer proceedings so far.

Likely market impact

Open offer stays live despite terminated deal. SAT ruling could alter the offer's progress and pricing; shareholders should track closely.