Description

Open offer by Kurjibhai Premjibhai Rupareliya and Leading Leasing Finance and Investment Company Limited to acquire 53,46,238 equity shares representing 13.24% of the emerging voting share capital of Sri Adhikari Brothers Television Network Limited.

Summary

Grow House Wealth Management Private Limited, as Manager to the Offer, has submitted the Letter of Offer dated October 10, 2025 to BSE on behalf of the Acquirer (Mr. Kurjibhai Premjibhai Rupareliya) and Person Acting in Concert (Leading Leasing Finance and Investment Company Limited). The open offer is for acquisition of up to 53,46,238 fully paid-up equity shares of face value ₹10/- each, representing 13.24% of the emerging voting share capital of Sri Adhikari Brothers Television Network Limited from public shareholders.

Key Points

  • Acquirer: Mr. Kurjibhai Premjibhai Rupareliya (individual)
  • Person Acting in Concert (PAC): Leading Leasing Finance and Investment Company Limited
  • Target Company: Sri Adhikari Brothers Television Network Limited (CIN: L32200MH1994PLC083853)
  • Offer Size: 53,46,238 equity shares (13.24% of emerging voting share capital)
  • Face Value: ₹10/- per equity share
  • Manager to the Offer: Grow House Wealth Management Private Limited (SEBI Registration No. INM000013262)
  • Letter of Offer Date: October 10, 2025
  • Submission Date to BSE: October 13, 2025

Regulatory Changes

No regulatory changes. This is a mandatory open offer pursuant to Regulation 3(1) and 4 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.

Compliance Requirements

  • Letter of Offer submitted to BSE pursuant to Regulation 14(2) of SEBI (SAST) Regulations, 2011
  • Document to be disseminated on BSE website for public shareholders
  • Public shareholders who have recently sold their equity shares should hand over the Letter of Offer and Form of Acceptance cum Acknowledgement to the stock exchange member through whom the sale was effected
  • Shareholders requiring clarification should consult their stock broker, investment consultant, Manager, or Registrar to the Offer

Important Dates

  • Letter of Offer Date: October 10, 2025
  • Submission Date to BSE: October 13, 2025
  • Circular Publication Date: October 16, 2025

Impact Assessment

This open offer will impact public shareholders of Sri Adhikari Brothers Television Network Limited, providing them an exit opportunity at the offer price. The acquisition of 13.24% stake by the Acquirer and PAC represents a substantial acquisition requiring compliance with SEBI SAST Regulations. Shareholders must carefully review the Letter of Offer to make informed decisions about tendering their shares. The offer creates potential changes in shareholding pattern and control structure of the target company.

Impact Justification

Open offer for substantial acquisition of shares (13.24%) in a publicly listed company under SEBI SAST Regulations, requiring immediate attention from public shareholders