Devinsu Trading received zero share tenders in its open offer to acquire up to 1,52,880 equity shares at ₹355 per share. The offer period closed on August 31, 2026.

The acquirers—Mr. Jaison Vijay Shah, Mr. Mukesh Kumar Bothra, and Yora Gems & Jewellery Private Limited—had initiated the offer pursuant to SEBI (SAST) Regulations, 2011. Mark Corporate Advisors Private Limited served as the manager to the offer, while Bigshare Services Private Limited acted as registrar.

Offer Outcome

Despite the mandatory open offer for up to 26.00% of the voting share capital, no public shareholders tendered shares. Consequently, the aggregate number of shares accepted was nil. The acquirers completed payment of consideration and communicated rejection or acceptance details on September 2, 2026.

Shareholding Structure

The acquirers’ total holding remains unchanged at 29.17% of the voting share capital, derived entirely from a prior Share Purchase Agreement (SPA). They acquired 1,71,493 equity shares through the SPA before the public announcement. No additional shares were acquired via the open offer or after the Detailed Public Statement (DPS).

Public shareholding remained stable at 70.83%, with 4,16,507 equity shares held by the public both pre- and post-offer. The acquirers’ post-offer shareholding stands at 1,71,493 shares, representing 29.17% of the total voting capital.

What the Numbers Show

The complete absence of tendered shares indicates that existing public shareholders chose not to exit at the ₹355 per share valuation. This suggests either confidence in the company’s future prospects under the new ownership structure or a belief that the market price exceeds the offer price. The acquirers have consolidated control through the SPA route rather than the open market mechanism.

Devinsu Trading held its adjourned 41st Annual General Meeting on August 20, 2026. The session addressed routine corporate governance matters and special resolutions regarding board composition.

The meeting commenced at 11:00 am via video conferencing and concluded at 11:12 am. Five shareholders attended the virtual session. Khushi Gangwani, Company Secretary and Compliance Officer, presided over the proceedings.

Board and Management Presence

The following directors and key managerial personnel were present at the AGM:

Deniis Desai served as Chairperson for the meeting. Ranjit Binod Kejriwal was appointed as the scrutinizer for electronic voting.

Agenda Items

Shareholders considered both ordinary and special business items. The ordinary business included adopting the audited financial statements for FY26 and reappointing Deniis Desai as a Whole-Time Director by rotation.

Special business items required shareholder approval for:

• Appointment of Statutory Auditors and approval of their remuneration
• Appointment of Sangita Hiren Shukla as an Independent Director
• Approval for loans, investments, guarantees, or security under Section 186 of the Companies Act, 2013
• Authorization to give loans and advances under Section 185 of the Companies Act, 2013

Voting Process

E-voting remained open from August 10, 2026, at 9:00 am to August 12, 2026, at 5:00 pm. Attendees who had not voted remotely were given 15 minutes after the conclusion of proceedings to cast their votes electronically. The company will declare voting results upon receipt of the scrutinizer's report.