Sundae Capital Advisors Private Limited ("Manager to the Offer") with respect to the open offer to the shareholders of Trucap Finance Limited ('Target Company') has informed BSE as under - ....
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Sundae Capital Advisors, the manager to the open offer for TruCap Finance Ltd, has submitted an update on the Securities Appellate Tribunal (SAT) proceedings related to the open offer made by Marwadi Chandarana Intermediaries Brokers Private Limited (the Acquirer). At the hearing on March 25, 2026, the Tribunal gave the appellant two weeks to file a rejoinder and confirmed that the existing interim order will stay in force until the next date. The next hearing is scheduled for April 24, 2026.
The open offer process remains in legal limbo at SAT, keeping uncertainty around the acquisition and potential change in control of TruCap Finance for shareholders. Share prices may stay range-bound until the April 24 hearing provides further clarity on the merger's validity or the offer's progress.