Swaraj Shares and Securities Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Post-Offer Public Announcement to the Public Shareholders of Virat Industries Ltd ("Target Company").
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Awaiting price reaction for this filing.
Swaraj Shares and Securities, acting as Manager to the Offer, has filed the Post-Offer Public Announcement for an open offer on Virat Industries Ltd. The offer is being made jointly by Mr. Bhavook Tripathi, BT Capital Managers Pvt Ltd, and Brahm Precision Materials Pvt Ltd for up to 36,96,090 equity shares (25.45% of expanded voting share capital) from public shareholders at Rs 158 per share. This open offer follows a preferential issue of equity shares at Rs 104 per share aggregating to about Rs 99.84 crore, based on a Share Subscription Agreement signed on September 24, 2024. The announcement was published on May 20, 2025 in Financial Express, Jansatta, and Mumbai Lakshadeep.
Public shareholders now have clarity on the open offer price (Rs 158/share) which is about 52% higher than the preferential allotment price (Rs 104/share) paid by the acquirers. The acquirers are consolidating a significant 25.45% stake, signaling a change in control. Shareholders may consider tendering shares or holding based on their view of the new promoters' plans.