SAR Televenture to Acquire Grand Foundry, Launches Open Offer

SAR Televenture Limited will acquire a 70.17% stake in Grand Foundry Limited (GFL), with an open offer to purchase an additional 26% of GFL's shares at ₹2.50 per share. The tendering period for the open offer is scheduled from June 09, 2026, to June 22, 2026.

Reader Takeaway: Exit opportunity at ₹2.50; pivot to broadband business services.

What just happened

SAR Televenture Limited (SARTL) has entered into a Share Purchase Agreement to acquire 70.17% of Grand Foundry Limited (GFL). Following this, SARTL will launch an open offer to acquire up to 26% of the outstanding shares of GFL at a price of ₹2.50 per share. This transaction will lead to a change in control of GFL.

Why this matters

The acquisition signifies a strategic shift for Grand Foundry Limited. SAR Televenture, involved in telecom infrastructure and FTTH networks, intends to use GFL as a platform to initiate and expand its broadband business services. This move could potentially lead to a restructuring or merger of GFL’s assets to align with SARTL's business objectives.

The backstory

Grand Foundry Limited reported a net profit of ₹0.18 crore for the financial year ended March 31, 2026. This marks a turnaround from consecutive losses in the previous three financial years (FY23, FY24, FY25). The company had previously faced regulatory penalties from NSE and BSE totaling ₹15.03 lakh for non-compliance with listing regulations, which have been settled.

What changes now

With the change in ownership, Grand Foundry Limited is set to transition its business focus towards broadband services. The new management plans to integrate or restructure GFL's assets to support this strategic direction. Investors now have a choice to exit via the open offer or remain invested based on the new business outlook.

Risks to watch

• Public Shareholding: The acquisition may reduce public shareholding below SEBI's 25% minimum. SARTL has committed to restoring public shareholding levels as required.
• Trading Halt: Shares tendered in the open offer will be restricted from trading during the offer period.

Peer comparison

N/A

Context metrics (time-bound)

• The open offer price is set at ₹2.50 per share.
• The tendering period for the open offer is from June 09, 2026, to June 22, 2026.
• Grand Foundry Limited reported a profit after tax of ₹0.18 crore for FY26.
• SAR Televenture's net worth as of December 31, 2025, was ₹773.03 crore.

What to track next

Investors should monitor SAR Televenture's progress in integrating GFL into its broadband business strategy and its efforts to comply with public shareholding norms.