Description
Open offer to acquire 26% stake in V. R. Woodart Limited at ₹22 per share pursuant to SEBI takeover regulations.
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 at ₹22 per share in cash. The offer is made pursuant to SEBI (SAST) Regulations following substantial acquisition triggering mandatory open offer obligations.
Key Points
- Offer for 1,06,50,070 shares representing 26% of expanded voting share capital
- Offer price: ₹22 per share payable in cash
- Unconditional offer - not dependent on minimum acceptance level
- No differential pricing applicable
- Not a competing offer under SEBI regulations
- Offer price may be revised upward if higher prices paid during offer period
Regulatory Changes
This offer triggers compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, specifically Regulations 3(1) and 4, due to substantial acquisition resulting in change of control and management.
Compliance Requirements
- Public shareholders can tender their shares during the tendering period
- Acquirers must obtain any required statutory approvals before tendering period expiration
- If approvals extend to only some shareholders, acquirers may complete partial transactions
- Offer price revision mandatory if higher prices paid during offer period
Important Dates
- Last day for offer price revision: Thursday, August 14, 2025 (1 working day prior to tendering period)
- Tendering period: Commences after August 14, 2025
Impact Assessment
High impact corporate action involving potential change in control and management of V. R. Woodart Limited. Shareholders have opportunity to exit at ₹22 per share. The acquisition may lead to delisting considerations and significant changes in company operations and strategy.
Impact Justification
Major corporate action involving change in control and management of listed company