BSE has notified trading members and custodians of an open offer by Jyotirgamya Advisory Private Limited (Acquirer 1) and Mr. Ashok Kumar Chordia (Acquirer 2) to acquire up to 33,34,968 equity shares — representing 26% of the voting share capital — of AAA Technologies Limited. The offer is priced at Rs. 101.00 per fully paid-up equity share (face value Rs. 10) and will be conducted through the BSE Acquisition Window mechanism under SEBI’s tender-offer framework.

Key Points

• Acquirers: Jyotirgamya Advisory Private Limited and Mr. Ashok Kumar Chordia
• Target Company: AAA Technologies Limited
• Offer Price: Rs. 101.00 per equity share (payable in cash)
• Shares to be acquired: Up to 33,34,968 equity shares (26% of voting share capital)
• Face value of shares: Rs. 10.00 per share
• Offer window: April 23, 2026 (Thursday) to May 7, 2026 (Thursday)
• SEBI Holiday excluded: May 1, 2026 (Friday)
• Offer is made under SEBI (SAST) Regulations 2011, specifically Regulations 3(1) and 4
• Letter of Offer attached for market participant reference

Regulatory Changes

No new regulatory changes are introduced. The offer operates under the existing SEBI framework:

• SEBI Circular CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015
• SEBI Circular CFD/DCR2/CIR/P/2016/131 dated December 9, 2016
• BSE Revised Guidelines issued via notices: 20170210-16, 20190424-35, 20200528-32, 20201102-43, and 20210825-62

Compliance Requirements

• Trading members and custodians must note the open offer window and facilitate client participation accordingly
• All transactions must comply with BSE’s Revised Guidelines for acquisition through the Stock Exchange tender-offer mechanism
• Market participants should refer to the Letter of Offer (attached) for detailed procedural requirements
• Offer details are available on the BSE website (www.bseindia.com)

Important Dates

• Notice Date: April 21, 2026
• Offer Opens: April 23, 2026 (Thursday)
• Offer Closes: May 7, 2026 (Thursday)
• Excluded Holiday: May 1, 2026 (SEBI Holiday — Friday)

Impact Assessment

This open offer has significant market impact for public shareholders of AAA Technologies Limited. A 26% stake acquisition at Rs. 101 per share provides shareholders an exit opportunity at a potentially premium valuation. Trading members and custodians are operationally required to manage client tendering through the BSE Acquisition Window during the offer period. The offer follows standard SEBI SAST regulatory protocols, limiting systemic risk, but concentration of 26% voting rights in new acquirers may affect the company’s governance and future strategic direction.