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 the Acquirers) have launched 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 price is set at Rs. 12.15 per fully paid-up equity share and Rs. 7.15 per partly paid-up equity share, payable in cash. This offer is made pursuant to Regulation 3(1) and Regulation 4 of 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-up equity share
  • Partly Paid-up Price: Rs. 7.15 per partly paid-up equity share
  • Payment Mode: Cash
  • Open offer is not conditional upon minimum acceptance level
  • This is not a competing offer
  • No competing offer exists as of the letter date
  • Target Company registered office: 1/22, Second Floor, Asaf Ali Road, Delhi 110002

Regulatory Changes

This open offer is made in compliance with:

  • Regulation 3(1) of SEBI (SAST) Regulations (mandatory offer requirement)
  • Regulation 4 of SEBI (SAST) Regulations
  • Regulation 19 (offer not conditional on minimum acceptance)
  • Regulation 20 (not a competing offer)
  • Regulation 23 (withdrawal provisions)

Compliance Requirements

  • Public shareholders must review the Letter of Offer and Form of Acceptance cum Acknowledgement
  • Shareholders who recently sold shares should hand over documents to their stock broker
  • Acquirers may revise offer price or number of shares upward prior to last working day before tendering period
  • Any revision must be announced via Issue Opening Public Announcement in same newspapers as original Detailed Public Statement
  • Revised price applies to all shares validly tendered during entire tendering period
  • If offer withdrawn per Regulation 23, communication must be made within 2 working days
  • Offer subject to receipt of statutory and other approvals as per Paragraph 7.4

Important Dates

  • Last date for upward revision of Offer Price/Shares: Wednesday, December 31, 2025 (one working day before commencement of tendering period)
  • Tendering Period commencement: Expected after January 1, 2026

Impact Assessment

This takeover offer has significant implications for Oscar Global Limited shareholders:

For Shareholders:

  • Provides exit opportunity at Rs. 12.15 per share for up to 26% of company’s equity
  • Shareholders must evaluate whether offer price represents fair value
  • Partly paid-up shareholders offered Rs. 7.15 (difference between offer price and unpaid calls/interest)

Corporate Control:

  • Acquirers seeking to acquire substantial 26% stake
  • May lead to change in management control or significant influence
  • Existing promoter/management structure may be affected

Market Impact:

  • Likely to influence Oscar Global’s stock price during offer period
  • Trading activity expected to increase as shareholders decide on participation
  • No minimum acceptance condition reduces execution risk for acquirers

Procedural:

  • Unconditional offer (except statutory approvals) increases certainty of completion
  • Absence of competing offers simplifies decision-making for shareholders
  • Cash consideration provides immediate liquidity

Impact Justification

Major acquisition event involving 26% stake takeover of Oscar Global Limited under SEBI SAST regulations, directly impacting existing shareholders who must decide on tendering shares