Description

Open offer by Narra Purna Babu to acquire up to 42,25,442 equity shares representing 26% of expanded capital of Hypersoft Technologies Limited at Rs. 11 per share.

Summary

Narra Purna Babu has announced an open offer to acquire up to 42,25,442 equity shares of Hypersoft Technologies Limited at Rs. 11 per share, representing 26% of the expanded capital. The offer is made pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and is directed at public shareholders of the Target Company.

Key Points

  • Acquirer: Narra Purna Babu (residing at Kongapadu, Andhra Pradesh and Singapore)
  • Target Company: Hypersoft Technologies Limited (CIN: L62010TG1983PLC003912)
  • Offer Size: Up to 42,25,442 equity shares of Rs. 10 each
  • Offer Price: Rs. 11 per equity share payable in cash
  • Percentage: 26% of expanded capital
  • Existing Public Shareholders: 22,17,160 shares as on Public Announcement date
  • The offer is not conditional upon any minimum level of acceptance per Regulation 19(1) of SEBI SAST Regulations
  • 36,05,000 shares allotted in preferential issue to public category are locked-in for 6 months and cannot be tendered

Regulatory Changes

None. This is a standard open offer made in compliance with existing SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Compliance Requirements

  • Public shareholders who wish to participate must submit the Form of Acceptance-cum-acknowledgement during the tendering period
  • Shareholders who have recently sold their equity shares should hand over the Letter of Offer to the stock exchange member through whom the sale was effected
  • Required approvals: BSE (Designated Stock Exchange) approval and shareholder approval for preferential issue have been obtained
  • Preferential issue approved by shareholders in EGM held on April 26, 2025
  • BSE in-principle approval received on August 8, 2025
  • BSE trading approval received on September 24, 2025

Important Dates

  • Public Announcement Date: October 15, 2025 (implied)
  • EGM for Preferential Issue Approval: April 26, 2025
  • BSE In-principle Approval: August 8, 2025
  • BSE Trading Approval: September 24, 2025
  • Lock-in Period for Preferential Allotment: 6 months from trading approval date (expires approximately March 24, 2026)
  • Last date for upward revision of Offer Price/Size: One working day before commencement of tendering period
  • Withdrawal communication (if applicable): Within 2 working days by announcement in same newspapers

Impact Assessment

Market Impact: Medium - The open offer provides an exit opportunity for public shareholders at Rs. 11 per share. The acquisition of 26% stake represents a significant change in shareholding pattern of Hypersoft Technologies Limited.

Shareholder Impact: Public shareholders holding 22,17,160 shares have the option to tender their shares. The preferential allotment of 36,05,000 shares has already altered the capital structure, with these shares locked-in and not eligible for tendering.

Operational Impact: The takeover may lead to changes in management and strategic direction of Hypersoft Technologies Limited. The acquirer’s dual residence (India and Singapore) suggests potential for international business operations or restructuring.

Regulatory Compliance: The offer is being conducted in full compliance with SEBI SAST Regulations, 2011, with all necessary stock exchange approvals obtained. No additional statutory approvals are currently required, though the offer would be subject to any approvals that become applicable prior to completion.

Impact Justification

Standard open offer announcement for takeover of a listed company affecting public shareholders. Medium impact as it involves acquisition of 26% stake at disclosed price of Rs. 11 per share.