Darsh Advisory Private Limited has announced an open offer to acquire up to 26% stake in Kenrik Industries Ltd at Rs 10 per share. This follows a Share Purchase Agreement executed on August 27, 2026, where the acquirer bought a 72.01% stake, triggering a mandatory change in control and management under SEBI regulations.
Kenrik Industries Ltd Undergoes Ownership Change
Acquirer: Darsh Advisory Private Limited | Stake Acquired: 72.01%
Reader Takeaway: Existing shareholders get an exit opportunity at Rs 10 per share, while the company transitions to new management.
What just happened
Darsh Advisory Private Limited has formally initiated an open offer to acquire up to 26% of the equity share capital of Kenrik Industries Ltd. This development follows the signing of a Share Purchase Agreement on August 27, 2026, where the acquirer purchased 89,99,500 shares (72.01%) from the existing promoters.
Why this matters
The transaction results in a complete change of control for Kenrik Industries Ltd. As the acquirer now holds a majority stake, the open offer is a mandatory compliance requirement under SEBI (SAST) Regulations to provide an exit route to minority shareholders. The offer price is set at Rs 10 per share, which aligns with the price established in the underlying Share Purchase Agreement.
Offer Details
The offer size covers 32,49,454 shares, representing 26% of the target company's voting capital. The total consideration for this open offer is estimated at Rs 3.25 crore, to be settled entirely in cash. The acquirer has confirmed that it possesses the necessary financial resources to fulfill these obligations.
Next Steps
Shareholders should watch for the Detailed Public Statement, which is scheduled for release by September 3, 2026. This document will outline the specific window for tendering shares and provide instructions for the voting and acceptance process.