Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Corrigendum to the Detailed Public Statement for attention to the Shareholders of High Street Filatex ....
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Navigant Corporate Advisors, the manager to the offer, has submitted a corrigendum to the Detailed Public Statement for an open offer on High Street Filatex Limited (BSE: 531301). The offer is by Mr. Sandeep Agrawal and Mrs. Anupriya Sandeep Agrawal to acquire up to 10,96,792 equity shares (26% of emerging capital) at Rs. 10 each. The corrigendum revises the open offer timeline due to delays in SEBI comments and a recent preferential allotment of 16,96,430 shares on March 28, 2025. The revised opening date is April 11, 2025, with closing on April 28, 2025, and consideration payment by May 14, 2025. The target company's share capital has increased from 6,47,000 shares to 23,43,430 shares post the preferential issue.
Existing public shareholders of High Street Filatex now have a longer window to tender shares in the open offer, with the offer opening on April 11, 2025 and closing April 28, 2025. The enlarged share base post preferential allotment means each shareholder's proportional stake is diluted, and the 26% acquisition target represents fewer shares relative to the original capital structure.