Aspect Global Ventures Private Limited has launched a mandatory open offer to acquire up to 25,62,872 fully paid-up equity shares, representing 26% of the voting share capital of Duke Offshore Limited , at a price of ₹30 per share. The offer, aggregating ₹7,68,86,160, is being made pursuant to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following a Share Purchase Agreement dated June 11, 2026.

The acquirer has agreed to purchase 69,59,800 equity shares, constituting 70.61% of the voting share capital, from the existing promoters—George Albert Donald Duke, Avik George Duke, and Komal Duke—at ₹30 per share. This transaction, valued at ₹20,87,94,000, will result in a change of control, triggering the mandatory open offer for public shareholders. Upon completion of the underlying transaction, the sellers will cease to be promoters and will be declassified from the promoter category.

Saffron Capital Advisors Private Limited has been appointed as the manager to the offer, while Cameo Corporate Services Limited will act as the registrar. The acquirer has deposited the entire offer consideration of ₹7,68,86,160 in an escrow account with ICICI Bank Limited, complying with the requirement to maintain 100% of the consideration in escrow. The offer is not conditional upon any minimum level of acceptance.

The tentative schedule indicates that the offer will open on Tuesday, August 04, 2026, and close on Monday, August 17, 2026. The identified date for determining eligible shareholders is July 21, 2026. Equity shares of the target company are listed on BSE Limited under the scrip code 531471.

Key Offer Details

The offer price of ₹30 per share was determined in accordance with Regulation 8 of the SEBI (SAST) Regulations, 2011, based on the highest negotiated price under the Share Purchase Agreement and the volume-weighted average market price of ₹21.30 for the 60 trading days preceding the public announcement. The acquirer has reserved the right to revise the offer price upwards prior to the commencement of the tendering period.

Aspect Global Ventures Private Limited has initiated a mandatory open offer to acquire up to 25,62,872 fully paid-up equity shares, representing 26% of the voting share capital of Duke Offshore Limited , at a price of ₹30 per share. The offer, aggregating to ₹7.69 crore, is pursuant to a share purchase agreement dated June 11, 2026, through which the acquirer will purchase 69,59,800 shares, constituting 70.61% of the voting share capital, from the existing promoters. The offer is being made in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The offer price of ₹30 per share has been determined in accordance with SEBI regulations, representing the highest of the negotiated price under the share purchase agreement and the volume-weighted average market price. The acquirer has deposited the entire offer consideration of ₹7.69 crore into an escrow account with ICICI Bank Limited, confirming firm financial arrangements for the transaction. Saffron Capital Advisors Private Limited has been appointed as the manager to the offer.

Shareholding and Acquisition Details

The acquisition will result in a significant change in the shareholding structure of Duke Offshore Limited. The sellers, who are the current promoters, will exit the company entirely upon completion of the transaction.

Calculated on the basis of existing fully paid-up Equity Shares of the Target Company.

Offer Schedule and Process

The open offer is scheduled to commence on August 04, 2026, and will close on August 17, 2026. The designated stock exchange for the tendering process is BSE Limited, which will provide a separate acquisition window for shareholders. Public shareholders holding shares in dematerialized or physical form are eligible to participate. Choice Equity Broking Private Limited has been appointed as the buying broker for the offer.

The acquirer has stated that the primary objective is to acquire management control and position the company for enhanced operational efficiency. Upon completion, the existing promoters will be declassified from the promoter category. The offer is not conditional upon a minimum level of acceptance.