Description
Mr. Sunil Kumar Shahi makes open offer to acquire up to 26% voting shares of SER Industries Limited at Rs. 35 per share.
Summary
Mr. Sunil Kumar Shahi has launched an open offer to acquire up to 2,57,294 equity shares (26% of voting share capital) of SER Industries Limited at Rs. 35.00 per share, payable in cash. This mandatory offer is made under SEBI SAST Regulations due to substantial acquisition accompanied by change in control and management.
Key Points
- Offer for 2,57,294 shares representing 26% of voting share capital
- Offer price: Rs. 35.00 per share in cash
- Acquirer: Mr. Sunil Kumar Shahi
- Non-conditional offer (no minimum acceptance level)
- No differential pricing
- Not a competing offer
Regulatory Changes
This offer is made pursuant to Regulations 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, triggered by substantial acquisition with change in control and management.
Compliance Requirements
- Public shareholders to respond during tendering period
- Acquirer prohibited from acquiring shares after 3rd working day prior to tendering period
- Offer price subject to upward revision if higher price paid during offer period
- Public announcements required for any revisions
- SEBI, BSE and target company to be informed of revisions
Important Dates
- Last date for offer price revision: Tuesday, August 19, 2025 (1 working day prior to tendering period)
- Tendering period: To be announced
- Acquirer cannot acquire shares from 3rd working day before tendering period until expiry
Impact Assessment
High impact transaction involving change of control and management of SER Industries Limited. Shareholders have opportunity to exit at Rs. 35 per share. The mandatory nature ensures regulatory compliance while protecting minority shareholder interests during control change.
Impact Justification
Major acquisition affecting control and management of listed company