Vivro Financial Services Private Ltd� has submitted to� the Exchange a copy of Public notice for the attention of the public shareholders of the company.
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Vivro Financial Services, the manager to the offer, has submitted a public notice for Aarvee Denims and Exports Limited (NSE: AARVEEDEN, BSE: 514274) regarding an Open Offer to acquire up to 60,99,548 equity shares (26% of equity capital) from public shareholders. The acquirer Jaimin Kailash Gupta, along with PACs Tarachand Gangasahay Agrawal and Qmin Industries Limited, was unable to complete acquisition of 78,72,515 sale shares under the Share Purchase Agreement by the original deadline of June 10, 2025 due to extraordinary circumstances beyond their control. SEBI has granted a 30-day extension, pushing the deadline to July 10, 2025. The public notice was published on June 11, 2025 in Financial Express (English and Gujarati editions), Jansatta (Hindi), and Navshakti (Marathi, Mumbai) newspapers.
The Open Offer process faces a one-month delay but is still on track with SEBI's formal approval. Public shareholders awaiting tendering may need to wait until the extended timeline plays out, though no structural change to the deal is signaled.