AMPL Capital (formerly Credent Global Finance) is launching a Rs 47.94 crore open offer at Rs 30 per share. This mandatory offer follows a stake acquisition, signalling a change in control.
AMPL Capital Launches Rs 47.94 Crore Open Offer at Rs 30 Per Share
Offer Size: 1,59,79,920 Equity Shares
Offer Price: INR 30 per share
Reader Takeaway: Mandatory open offer provides exit at Rs 30; warrant issuance poses dilution risk.
What just happened
AMPL Capital Limited, formerly known as Credent Global Finance Limited, is undergoing a mandatory open offer to acquire up to 1,59,79,920 equity shares, representing 26% of its paid-up capital. The offer price is set at INR 30 per share, with the total maximum consideration amounting to INR 47.94 crore. This event is triggered by an acquisition of 5,66,264 equity shares (0.92% stake) by a group comprising DP Global Wealth Management LLP, Vikas Kataria, and Supriya Kataria, which pushed their combined holding above the 25% threshold.
Why this matters
The open offer signifies a change in control for AMPL Capital. It presents an opportunity for existing public shareholders to exit their investments at a defined price of INR 30 per share. The acquirers have also stated they do not intend to delist the company's shares.
The backstory
The company recently changed its name from Credent Global Finance Limited to AMPL Capital Limited. The trigger for the open offer was a market purchase of shares that took the acquirers' stake above the 25% regulatory limit, as per SEBI (SAST) Regulations.
What changes now
The controlling group will increase its stake in AMPL Capital through this open offer. Shareholders who wish to exit can tender their shares at INR 30. The acquirers have committed to not delisting the company post-offer.
Risks to watch
A key risk is the potential for future equity dilution. The Board of Directors is considering the issuance of up to 76 lakh convertible equity warrants. Additionally, the open offer's completion is contingent on obtaining necessary statutory and regulatory approvals.
Peer comparison
AMPL Capital operates in the financial services sector. Its peers include other listed NBFCs and capital market entities. Open offers are common triggers for change in control events in the sector, providing liquidity to smaller shareholders.
Context metrics (time-bound)
The acquirers purchased 5,66,264 shares (0.92%) to trigger the offer.
The open offer size is 1,59,79,920 shares (26% stake).
The total consideration is INR 47.94 crore.
The offer price is INR 30 per share.
Detailed Public Statement (DPS) and Letter of Offer (LoF) are expected by July 07, 2026.
What to track next
Investors should closely monitor the publication of the Detailed Public Statement and Letter of Offer for procedural details. Keeping an eye on the proposed convertible equity warrant issuance and its impact on shareholding patterns will also be crucial.