Duke Offshore Limited has announced that its board will meet on July 17, 2026, to consider the unaudited financial results for the first quarter ended June 30, 2026. The meeting is scheduled to take place at 11:00 A.M. at the company's registered office located at 403, Urvashi, Off Sayani Road, Prabhadevi, Mumbai.

The primary agenda for the board meeting is to consider and take on record the financial performance of the company for Q1FY26. Additionally, the board will discuss any other business with the permission of the Chair.

The notice regarding this board meeting was submitted to BSE Limited in compliance with Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also ensured that the notice is available on the stock exchange's website.

Meeting Details

The intimation regarding the board meeting was signed by Avik George Duke, Managing Director of Duke Offshore Limited.

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.