Arnold Holdings Ltd has received an open offer from the acquirers to purchase up to 92,72,250 equity shares, representing 39% of its voting share capital, at ₹12.50 per share. The offer follows a share purchase agreement for a 14.95% stake at ₹12 per share. Shareholders will be able to tender shares between November 3 and November 18, 2026, subject to the offer process.
Arnold Holdings Receives 39% Open Offer at ₹12.50 Per Share
Open Offer Size: 92,72,250 equity shares (39.00%)
Offer Price: ₹12.50 per equity share
Reader Takeaway: Ownership change advances, while shareholders should monitor the open offer timeline and acceptance.
What just happened
Arnold Holdings Ltd has announced an open offer under the applicable takeover regulations following a share purchase agreement executed by the acquirers.
The open offer seeks to acquire up to 92,72,250 fully paid equity shares, representing 39% of the company's total voting share capital, at an offer price of ₹12.50 per share.
The offer follows an agreement dated September 8, 2026, under which the acquirers agreed to purchase 35,55,500 equity shares, or a 14.95% stake, from existing shareholders at a negotiated price of ₹12.00 per share.
Why this matters
The transaction represents a significant change in the ownership structure of Arnold Holdings.
The acquirers have stated that the objective is to strengthen their stake in the company, support ongoing business operations, improve operational efficiency and pursue commercial expansion.
What changes now
The acquirers are Mr. Pawankumar Nathmal Mallawat and Allwin Securities Limited, while Keemtee Financial Services Limited is acting as the person acting in concert (PAC).
The tendering period for the open offer is scheduled from November 3, 2026, to November 18, 2026.
An escrow account has been opened with Kotak Bank Limited, with ₹3 crore deposited as cash collateral in accordance with regulatory requirements.
Financial snapshot
For FY2026, Arnold Holdings reported revenue of ₹166.89 crore and net profit of ₹4.42 crore, compared with revenue of ₹199.73 crore and profit of ₹5.33 crore in FY2025.
For the quarter ended June 30, 2026, the company reported revenue of ₹71.12 crore and net profit of ₹3.51 crore.
Risks to watch
Investors should monitor the completion of the open offer, changes in the shareholding pattern and compliance with the minimum public shareholding requirement after the transaction.
The company's financial performance has also shown lower revenue and earnings over the past three financial years, making future operating performance another area to watch.