Description

Open offer to acquire up to 2,57,294 shares representing 26% voting capital of SER Industries Limited at Rs. 35 per share.

Summary

Mr. Sunil Kumar Shahi has announced an open offer to acquire up to 2,57,294 equity shares representing 26% of the voting share capital of SER Industries Limited at an offer price of Rs. 35 per share, payable in cash. This offer is made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following substantial acquisition accompanied by change in control and management.

Key Points

  • Acquirer: Mr. Sunil Kumar Shahi (G-401, Pride Platinum, Baner, Pune - 411045)
  • Target Company: SER Industries Limited
  • Offer Size: Up to 2,57,294 shares (26% of voting share capital)
  • Offer Price: Rs. 35 per share (cash payment)
  • Trigger: Substantial acquisition under Regulations 3(1) and 4 of SEBI (SAST) Regulations
  • Unconditional offer - not subject to minimum acceptance level
  • No differential pricing applicable
  • Not a competing offer

Regulatory Changes

This offer is made in compliance with SEBI (SAST) Regulations, 2011, specifically:

  • Regulation 3(1) - Substantial acquisition trigger
  • Regulation 4 - Mandatory open offer requirements
  • Regulation 18(4) - Offer price/size revision provisions
  • Regulation 8(8) - Price revision based on acquisitions during offer period

Compliance Requirements

  • No statutory approvals currently required to complete the offer
  • If statutory approvals become necessary, acquirer must apply before tendering period expiration
  • Acquirer prohibited from acquiring shares after 3rd working day prior to tendering period commencement
  • Escrow amount must be increased correspondingly for any offer price revisions
  • Public announcement required in same newspapers for any revisions
  • SEBI, BSE Limited, and target company must be informed of any revisions

Important Dates

  • Last day for offer price/size revision: Tuesday, August 19, 2025 (1 working day prior to tendering period)
  • Acquirer cannot acquire shares from 3 working days before tendering period until its expiry
  • Tendering period dates to be announced separately

Impact Assessment

High impact transaction involving potential change in control and management of SER Industries Limited. The 26% acquisition represents substantial ownership change that could significantly influence company operations, strategic direction, and shareholder composition. Public shareholders have opportunity to exit at predetermined price of Rs. 35 per share.

Impact Justification

Major takeover offer affecting 26% of company's voting capital with potential change in control