A group of acquirers comprising Annjana Dugar, Likhitta Dugar, and Antariksh Dugar, along with Person Acting in Concert (PAC) Padam Dugar, has initiated an open offer to acquire up to 26% of the voting share capital of Colinz Laboratories Limited . The offer is priced at ₹54 per equity share, representing a total consideration of ₹3,53,68,164, and is being made pursuant to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The open offer was triggered following the execution of a Share Purchase Agreement dated June 18, 2026, between the acquirers and selling shareholder Vijaya Mani. Under this agreement, the acquirers are purchasing 8,70,500 equity shares, constituting 34.56% of the total voting share capital, at a price of ₹50 per share for a total consideration of ₹4,35,25,000. This transaction will result in the acquirers and the PAC assuming control over the target company and becoming co-promoters.

Saffron Capital Advisors Private Limited has been appointed as the manager to the offer. The acquirers have confirmed they possess adequate financial resources to meet the obligations under the offer and have made firm financial arrangements for the acquisition. The offer is not conditional upon any minimum level of acceptance and is not being issued pursuant to a competitive offer.

Offer and Transaction Details

The open offer targets 6,54,966 fully paid-up equity shares of face value ₹10 each. The acquirers, who are immediate relatives of the PAC, currently hold a combined 15.01% of the voting share capital. Upon completion of the underlying transaction and excluding the open offer shares, their combined holding is set to increase to 49.56%.

Target Company and Selling Shareholder

Colinz Laboratories Limited is listed on BSE Limited with a scrip code of 531210. The selling shareholder, Vijaya Mani, is part of the promoter group and currently holds 34.56% of the voting share capital. Following the consummation of the underlying transaction, Vijaya Mani will cease to hold any equity shares and will be reclassified from the promoter to the public category.

The acquirers have stated they have no intention to delist the equity shares of the target company pursuant to this open offer. A Detailed Public Statement is expected to be published on or before June 25, 2026.

Padam Dugar, along with Persons Acting in Concert (PAC), has acquired a 15.01% stake in Colinz Laboratories Limited through an off-market transaction executed on May 21, 2026. The acquisition, disclosed to BSE Limited under Regulation 29(1) and 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, involved the purchase of 3,78,000 equity shares. The acquirers do not belong to the promoter or promoter group of the target company. The company received the requisite disclosures on May 22, 2026, and May 25, 2026, confirming the transaction details.

Details of the Acquisition

The acquisition was structured as an off-market purchase, involving direct transfers between parties. The total equity share capital of Colinz Laboratories remains unchanged at Rs. 2,51,91,000, divided into 25,19,100 fully paid-up equity shares of Rs. 10 each. The acquirers included Padam Dugar, Annjana Dugar, Likhitta Dugar, and Antariksh Dugar. Prior to this transaction, the holding of all acquirers was nil.

Shareholding Breakdown

The following table details the shares acquired by each individual and their resulting post-transaction holdings:

The disclosures were signed by the acquirers on May 25, 2026. Ganesh Chitte, the CFO of Colinz Laboratories, submitted the intimation to the exchange.