Baba Arts Limited has closed its trading window for designated insiders effective July 1, 2026, to comply with insider trading regulations. The window will remain shut until 48 hours after the company declares its unaudited financial results for the quarter ending June 30, 2026. This restriction applies to Directors, Promoters, Designated Employees, and Specified Connected Persons as defined in the company's Code of Conduct for Prevention of Insider Trading.

The closure follows the provisions of the SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018. The measure is intended to prevent the misuse of unpublished price-sensitive information during the period leading up to the financial announcement.

Trading Window Schedule

The company has not yet announced the specific date for the Board Meeting where the unaudited financial results for the quarter will be declared. This information will be intimated in due course.

Skybridge Interactive LLP has revised the schedule for its mandatory open offer to acquire up to 1,32,92,000 equity shares, representing 25.32% of the equity and voting share capital of Baba Arts Limited , at a price of ₹6.00 per share. The revised timeline, compliant with SEBI observations, sets the tendering period from Tuesday, June 09, 2026, to Monday, June 22, 2026. The maximum consideration for the offer, assuming full acceptance, aggregates to ₹7,97,52,000.

The offer is triggered by the acquirer's agreement to purchase a 74.67% stake from the existing promoter, Gordhan Prabhudas Tanwani, for ₹23,52,00,000. Consequently, the identified date for determining the list of public shareholders has been revised to Monday, May 25, 2026. Bonanza Portfolio Limited remains the Manager to the Offer, and Purva Sharegistry (India) Private Limited is the Registrar to the Offer.

Revised Schedule of Activities

The acquirer has adjusted the offer timeline following observations from SEBI. The last date for upward revision of the offer price and the publication of the opening announcement is now Monday, June 08, 2026. The letter of offer was dispatched to shareholders on Tuesday, June 02, 2026.

Financials and Risk Factors

Baba Arts Limited reported a profit after tax of ₹54.86 for the nine months ended December 25, 2026, compared to ₹143.84 for the financial year ended March 31, 2025. The company's net worth stood at ₹2675.82 as per the audited financial statements for FY25. A contingent liability regarding a service tax demand of ₹7,64,70,058 for FY 2011-12 to FY 2014-15 remains outstanding, against which the company has filed an appeal and deposited ₹57,35,255.

The letter of offer outlines several risk factors, including the potential reduction in public float to negligible levels, which could adversely impact liquidity. Additionally, the acquirer's designated partner, Mr. Devang Dinesh Master, was previously listed as a wilful defaulter in connection with Microcity India Limited, though the loan accounts have since been settled with 'No Dues' certificates.