BSE has announced the opening of an Offer to Buy (Acquisition Window) for the takeover of Tejassvi Aaharam Limited. The open offer is made by Prasanna Natarajan (Acquirer 1), Rajat Chakra Credit & Holdings Private Limited (Acquirer 2), Sipping Spirits Private Limited (Acquirer 3), and Saranga Investments & Consultancy Private Limited (Acquirer 4), along with Rajalakshmi Natarajan as Person Acting in Concert (PAC), to public shareholders of Tejassvi Aaharam Limited at Rs. 10/- per equity share.

Key Points

• Open offer price: Rs. 10/- (Rupees Ten Only) per equity share, payable in cash
• Offer size: Up to 70,00,000 (Seventy Lakhs) fully paid-up equity shares of face value Rs. 10/- each
• Offer represents 26% of the Emerging Voting Share Capital of the Target Company on a fully diluted basis
• Acquirers: Prasanna Natarajan, Rajat Chakra Credit & Holdings Pvt Ltd, Sipping Spirits Pvt Ltd, and Saranga Investments & Consultancy Pvt Ltd
• Person Acting in Concert (PAC): Rajalakshmi Natarajan
• The acquisition window mechanism follows SEBI circular CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016
• Eligible public shareholders hold only 12.04% of Emerging Voting Share Capital (after excluding deemed PACs who are ineligible to participate)

Regulatory Changes

No new regulatory changes introduced. This offer is conducted pursuant to the existing SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, specifically under Regulations 3(1) and 4 read with Regulation 15(1) and Regulation 13(2)(g). BSE revised guidelines for acquisition through Stock Exchange (notices 20170210-16, 20190424-35, 20200528-32, 20201102-43, 20210825-62) continue to apply.

Compliance Requirements

• Trading Members and Custodians must note and comply with the BSE acquisition window mechanism for this open offer
• Under Regulation 7(1) of SEBI SAST Regulations 2011, the open offer must be made for at least 26% of the Emerging Voting Share Capital
• Shareholders who are deemed Persons Acting in Concert or proposed allottees in the preferential issue are ineligible to participate per Regulation 7(6) of SEBI SAST Regulations 2011
• Eligible public shareholders (holding 12.04% of Emerging Voting Share Capital) may tender shares through the BSE acquisition window

Important Dates

• Notice Date: 24 April 2026
• Notice No.: 20260424-1
• Offer shares acquisition calculated as of the 10th working day from the closure of the Tendering Period

Impact Assessment

This open offer directly impacts public shareholders of Tejassvi Aaharam Limited who are eligible to tender their shares at Rs. 10/- per share. Given that only 12.04% of the Emerging Voting Share Capital is held by eligible public shareholders (significantly less than the 26% offer size), all eligible shareholders who tender their shares are likely to have their shares fully accepted. Trading members and custodians facilitating transactions in Tejassvi Aaharam Limited must ensure compliance with the BSE acquisition window mechanism during the tendering period.