Avishkar Infra Realty Ltd has triggered a mandatory open offer for 26% of its voting share capital at Rs 23 per share. The offer follows a preferential allotment of 60 lakh shares to the acquirer and associated parties. The open offer period will run from December 9, 2026, to December 22, 2026, with payment to public shareholders expected by January 6, 2027.
Avishkar Infra Realty Announces Mandatory Open Offer
Offer Price: Rs 23.00 per share
Offer Size: 58,24,853 equity shares
Reader Takeaway: The offer is triggered by a 26.78% preferential allotment; listing status will remain unchanged for the company.
What just happened
Avishkar Infra Realty Ltd has formally notified the exchange regarding a mandatory open offer initiated by Nalin Ramaniklal Shah and several Persons Acting in Concert (PACs). The move is triggered by the acquirers securing 60,00,000 equity shares (26.78% of voting capital) via a preferential allotment, crossing the 25% ownership threshold required under SEBI takeover regulations.
Why this matters
The open offer provides an exit opportunity for public shareholders at Rs 23 per share. The price includes a 10% annual interest component calculated for the delay period spanning from February 2024 to January 2027. The total financial commitment for the acquisition is estimated at Rs 13.39 crore.
The backstory
This offer stems from a preferential share issuance that increased the promoters' stake. To comply with SEBI (SAST) Regulations, the acquirer must offer to purchase up to 26% of the company's total voting capital from remaining public shareholders. The promoters have clarified that they intend to maintain the company’s current listing status on the stock exchange.
What changes now
Public shareholders now have a window to tender their shares between December 09, 2026, and December 22, 2026. The acquirer has secured the necessary funding through internal resources and established an escrow account with Kotak Mahindra Bank containing Rs 3.40 crore to guarantee the obligations.
What to track next
Investors should coordinate with their brokers to participate in the offer, ensuring their shares are tendered before the closing date. The payment process is scheduled to be completed by January 06, 2027.