Description

Open offer by Mr. Deniis Desai to acquire up to 1,63,800 equity shares representing 26% of emerging voting capital of Devinsu Trading Limited at ₹350 per share.

Summary

Mr. Deniis Desai has launched an open offer to acquire up to 1,63,800 fully paid-up equity shares of Devinsu Trading Limited, representing 26% of the emerging voting capital at an offer price of ₹350 per equity share. The offer is being made pursuant to Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011 and is payable in cash to eligible equity shareholders.

Key Points

  • Acquirer: Mr. Deniis Desai, residing at 3402, Raheja Odyssey, Village Magathane, Borivali (East), Mumbai-400066
  • Target Company: Devinsu Trading Limited (CIN: L51900MH1985PLC036383)
  • Offer Size: Up to 1,63,800 equity shares (26% of emerging voting capital)
  • Face Value: ₹10 per equity share
  • Offer Price: ₹350 per equity share, payable in cash
  • Regulatory Framework: SEBI (SAST) Regulations, 2011
  • Offer Type: Not conditional and not subject to minimum acceptance level
  • Competing Offer: No competing offer exists as of the date of this Letter of Offer
  • Manager to the Offer: Mark Corporate Advisors Private Limited
  • Contact: +91 91524 44445 | denisdesai@gmail.com

Regulatory Changes

This open offer is made in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer is structured under Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011.

Compliance Requirements

  • Eligible Equity Shareholders: Must review the Letter of Offer and accompanying Form of Acceptance and Transfer Deed
  • Recent Sellers: If shares were recently sold, hand over this Letter of Offer to the stock exchange member through whom the sale was executed
  • Statutory Approvals: Currently no statutory approvals are required; however, if approvals become necessary before the tendering period closes, the offer will be subject to receipt of such approvals
  • Price Revision: Any upward revision in offer price/size must be announced in newspapers where the Detailed Public Statement was published
  • Withdrawal: If withdrawn pursuant to Regulation 23, announcement must be made within two working days in the same newspapers

Important Dates

  • Letter of Offer Date: October 24, 2025
  • Price Revision Deadline: One working day before commencement of tendering period
  • Document Availability: PA, DPS, DLoF, and LoF available on SEBI website (www.sebi.gov.in)

Impact Assessment

For Shareholders: This is a significant corporate action requiring immediate attention from eligible equity shareholders of Devinsu Trading Limited. Shareholders must evaluate the offer price of ₹350 per share against current market conditions and their investment objectives.

For Target Company: The acquisition of 26% voting capital represents a substantial ownership change that may impact corporate governance and strategic direction.

Market Impact: High - This is a mandatory open offer under takeover regulations affecting a publicly listed company. The offer provides an exit opportunity for shareholders at ₹350 per share.

Compliance Impact: Shareholders need to respond during the tendering period by submitting the Form of Acceptance. Professional advice from stockbrokers or investment consultants is recommended for informed decision-making.

Impact Justification

Major corporate action involving acquisition of 26% stake through open offer under SEBI takeover regulations, requiring immediate shareholder attention and action.