Description

Open offer by Mrs. Minal Patil and Ms. Maddukuri Mounica to acquire up to 26% of V. R. Woodart Limited at ₹22 per share.

Summary

Mrs. Minal Patil and Ms. Maddukuri Mounica are making an open offer to acquire up to 1,06,50,070 equity shares (26% of expanded voting share capital) of V. R. Woodart Limited from public shareholders at ₹22.00 per share in cash. This offer is made pursuant to SEBI (SAST) Regulations following substantial acquisition and change in control of the target company.

Key Points

  • Offer for up to 1,06,50,070 shares representing 26% of expanded voting capital
  • Offer price: ₹22.00 per share payable in cash
  • Two acquirers: Mrs. Minal Patil and Ms. Maddukuri Mounica
  • Unconditional offer - not subject to minimum acceptance level
  • No differential pricing applicable
  • Not a competing offer under SEBI regulations
  • Offer price may be revised upward if statutory requirements mandate

Regulatory Changes

Offer made in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011, specifically Regulations 3(1) and 4, following substantial acquisition accompanied by change in control and management.

Compliance Requirements

  • Public shareholders must respond during the tendering period
  • No statutory approvals currently required but may be needed later
  • If statutory approvals required, acquirers will make necessary applications
  • Payments may be made to shareholders not requiring approvals if partial approvals obtained

Important Dates

  • Last day for offer price revision: Thursday, August 14, 2025 (1 working day prior to tendering period)
  • Tendering period commencement: Friday, August 15, 2025

Impact Assessment

High impact corporate action involving change of control in V. R. Woodart Limited. Public shareholders have opportunity to exit at ₹22 per share. The acquisition will result in new management and control structure of the company, significantly affecting corporate governance and strategic direction.

Impact Justification

Major corporate action involving change in control and management of listed company