Description

Open offer by Mr. Gopal Bhatter and M/s Gopal Bhatter HUF to acquire up to 8,58,000 equity shares representing 26% of Oscar Global Limited at Rs. 12.15 per share.

Summary

Mr. Gopal Bhatter and M/s Gopal Bhatter HUF (collectively “Acquirers”) have initiated an open offer to acquire up to 8,58,000 equity shares of Oscar Global Limited, representing 26% of the company’s equity share capital. The offer is made at Rs. 12.15 per equity share (Rs. 7.15 for partly paid-up shares) payable in cash, pursuant to SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Key Points

  • Acquirers: Mr. Gopal Bhatter and M/s Gopal Bhatter HUF
  • Target Company: Oscar Global Limited (CIN: L51909DL1990PLC041701)
  • Offer Size: Up to 8,58,000 equity shares (26% of equity share capital)
  • Offer Price: Rs. 12.15 per fully paid equity share of Rs. 10 face value
  • Partly Paid Shares: Rs. 7.15 per partly paid-up equity share
  • Payment Mode: Cash
  • Not conditional: No minimum acceptance level required under Regulation 19
  • Not a competing offer: As per Regulation 20 of SEBI (SAST) Regulations
  • No competing offer exists: As on date of Letter of Offer

Regulatory Changes

This open offer is made in compliance with:

  • Regulation 3(1) and Regulation 4 of SEBI (SAST) Regulations, 2011
  • Other applicable provisions of SEBI (SAST) Regulations and subsequent amendments

Compliance Requirements

For Public Shareholders:

  • Review the Letter of Offer and accompanying Form of Acceptance cum Acknowledgement
  • Consult stock broker, investment consultant, or registrar if clarification needed
  • If shares recently sold, hand over documents to the Stock Exchange member through whom sale was effected
  • Decide whether to tender shares during the Tendering Period

For Acquirers:

  • Subject to receipt of statutory and other approvals as mentioned in Paragraph 7.4 of Letter of Offer
  • Any upward revision in Offer Price or number of shares must be done prior to last one working day before Tendering Period commencement
  • Revisions must be communicated via Issue Opening Public Announcement in same newspapers as original Detailed Public Statement
  • If offer withdrawn per Regulation 23, communication required within 2 days

Important Dates

  • Last date for price/share revision: Wednesday, December 31, 2025 (one working day before Tendering Period commencement)
  • Tendering Period commencement: After January 1, 2026 (implied)

Impact Assessment

For Shareholders:

  • High impact as this is a significant acquisition requiring immediate shareholder attention and decision
  • Shareholders must evaluate whether to tender shares at Rs. 12.15 per share
  • Offer price applies to all shares validly tendered during Tendering Period, including if price is revised upward

For Oscar Global Limited:

  • Potential change in shareholding pattern with 26% stake acquisition
  • May lead to change in management control or significant influence by acquirers

Market Impact:

  • Trading activity in Oscar Global Limited shares likely to be affected
  • Price discovery mechanism may be influenced by the offer price of Rs. 12.15

Impact Justification

Major corporate action involving 26% acquisition of Oscar Global Limited through open offer. Significant for existing shareholders requiring immediate attention and decision on tendering shares.