Mumbai: An open offer has been made to the public shareholders of Virat Industries Limited by a group of acquirers led by Mr. Bhavook Tripathi, M/s BT Capital Managers Private Limited, and M/s Brahm Precision Materials Private Limited. The offer is part of a takeover plan under SEBI's guidelines.
Offer Details
The acquirers plan to purchase up to 23,56,954 fully paid-up equity shares, each having a face value of Rs 10. This represents 16.23% of the expanding voting capital of Virat Industries. The offer price is Rs 158 per share, and the payment will be made in cash.
Offer Period
The open offer will be available for shareholders to respond from Monday, 21st April 2025 to Monday, 5th May 2025. It is important to note that 1st May 2025 is a SEBI holiday, so no transactions will take place on that day.
Purpose of the Offer
This open offer is made under Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. It involves a substantial acquisition of shares, along with a change in control and management of Virat Industries.
SEBI and Exchange Guidelines
The offer follows the mechanism laid out by SEBI in its circulars dated April 13, 2015, and December 9, 2016. The BSE has also issued related guidelines through notices issued between 2017 and 2021, which will be followed during this offer.
More Information
The Letter of Offer is attached for detailed review, and the offer details are also available on the BSE website: www.bseindia.com.
