Sundae Capital Advisors Pvt Ltd ("Manager to the Offer") has informed BSE regarding "Interim order of The Hon'ble SAT in the matter of Open Offer given by Marwadi Chandarana Intermediaries ....
TRU · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.1 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.
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The Securities Appellate Tribunal (SAT) is hearing a case related to the open offer made by Marwadi Chandarana Intermediaries Brokers Pvt Ltd to the shareholders of TruCap Finance Ltd. On February 11, 2026, SAT passed an interim order maintaining status quo. In the next hearing on February 20, 2026, SAT gave SEBI two weeks to file its reply, with the acquirer getting two weeks thereafter to file a rejoinder. The interim status quo order continues until the next hearing, which is scheduled for March 25, 2026. The matter essentially remains in a holding pattern with no immediate impact on the open offer process.
For TruCap Finance shareholders, the open offer from Marwadi Chandarana remains on hold with status quo maintained, meaning no shares can be tendered or transferred under the offer until SAT gives a final ruling. The stock may continue to trade without the open offer overhang for now, but the outcome on March 25 could materially affect shareholders' exit options.