Corrigendum to Letter of Offer – Takeover Acquisition Window for Nirbhay Colours India Limited

Description

BSE publishes a corrigendum to the Letter of Offer for the open offer (takeover) of Nirbhay Colours India Limited, revising the offer opening and closing dates along with the schedule of major activities.

Summary

BSE has published a corrigendum to the Letter of Offer (LoF) dated 07th February 2026 for the open offer (takeover) of Nirbhay Colours India Limited (CIN: L46411GJ1992PLC017863) under Regulation 18(7) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The corrigendum revises the offer opening and closing dates and updates the schedule of major activities.

Key Points

• The Offer Opening Date has been revised from 03rd February 2026 to 16th February 2026.
• The Offer Closing Date has been revised from 16th February 2026 to 02nd March 2026.
• The Letter of Offer (LoF) dispatch date has been updated to 07th February 2026 (Saturday).
• The date of the last public announcement for opening of offer has been revised to 16th February 2026 (Monday).
• The date for commencement of tendering period is now 16th February 2026 and expiry is 02nd March 2026.
• The date by which all requirements including payment of consideration are to be completed remains 17th March 2026 (Tuesday).
• Post offer advertisement date remains 25th March 2026 (Wednesday).
• Clause 7 of the LoF has been amended to reflect that delays in regulatory approvals or litigation may push the offer schedule further, with SEBI empowered to grant extensions subject to interest payment under Regulation 18(11) of SEBI (SAST) Regulations, 2011.

Regulatory Changes

The corrigendum amends the following in the original Letter of Offer:

1. Page 03 – Offer Opens On: Changed from 03rd February 2026 to 16th February 2026.
2. Page 03 – Offer Closes On: Changed from 16th February 2026 to 02nd March 2026.
3. Page 04 – Tentative schedule of major activities: Updated with revised dates for LOF dispatch, independent directors’ recommendation deadline, last date for revising offer price/size, and tendering period dates.
4. Page 06 – Clause 7: Revised to clarify the process and SEBI’s authority in case of delays due to regulatory approvals, litigation, or SEBI direction to not proceed.

Compliance Requirements

• Shareholders of Nirbhay Colours India Limited must note the revised tendering period (16th February 2026 to 02nd March 2026) and submit their shares accordingly.
• This corrigendum must be read in conjunction with the original Letter of Offer dated 07th February 2026.
• The Acquirers are required to pay interest for any delayed payment of consideration if directed by SEBI under Regulation 18(11) of SEBI (SAST) Regulations, 2011.

Important Dates

Impact Assessment

This corrigendum has a targeted impact on shareholders of Nirbhay Colours India Limited who are eligible to participate in the open offer. The revision of the tendering period (now 16th February to 2nd March 2026) provides shareholders with updated timelines for tendering their equity shares. The broader market impact is minimal as this pertains to a single company’s takeover offer. Shareholders who may have acted on the originally disclosed dates should note the amendments and plan their participation accordingly within the revised schedule.

Impact Justification

This is a corrigendum to an existing open offer under SEBI SAST Regulations 2011, revising key dates for the tendering period. It is material to shareholders of Nirbhay Colours India Limited who wish to participate in the offer, but has limited broader market impact.