Sundae Capital Advisors Private Limited has submitted to the Exchange a copy of Interim order of The Hon ble SAT in the matter of Open Offer given by Marwadi Chandarana Intermediaries Brokers Private Limited ( Acquirer ) to the shareholders of the company
TRU · price
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Sundae Capital Advisors, the merchant banker handling the open offer for TruCap Finance, has submitted an update on the Securities Appellate Tribunal (SAT) proceedings. The matter was heard on March 25, 2026, where SAT gave the appellant two weeks to file a rejoinder and directed that the existing interim order will continue until the next hearing. The next hearing is scheduled for April 24, 2026. This is a follow-up to an earlier submission dated February 25, 2026, and relates to the open offer made by Marwadi Chandarana Intermediaries Brokers Private Limited to TruCap Finance shareholders.
The continuation of the interim order keeps the open offer process in a holding pattern, creating uncertainty for TruCap Finance shareholders awaiting clarity on the acquisition. Stock price may remain range-bound until the next SAT hearing on April 24, 2026, provides further direction.