Harmony Capital Services Open Offer Concludes with Partial Acceptance of 17 Lakh Shares
Mr. Rajesh Ghosh and Dorni Vinimoy Private Limited completed their open offer for Harmony Capital Services Limited, accepting 17,00,000 shares at ₹10.00 per share against the targeted 31,52,994 shares. The acquirers now hold 59.37% stake in the company through combined preferential allotment and open offer acquisitions. The offer concluded on February 25, 2026, with consideration paid on March 12, 2026, and post-offer advertisement published on March 20, 2026.
*this image is generated using AI for illustrative purposes only.
Mr. Rajesh Ghosh and Dorni Vinimoy Private Limited have successfully concluded their open offer for Harmony Capital Services Limited (HCSL), accepting 17,00,000 equity shares at ₹10.00 per share. The post-offer advertisement was published on March 20, 2026, in compliance with SEBI (SAST) Regulations.
Open Offer Results
The open offer, which targeted 31,52,994 equity shares representing 26.00% of the emerging equity and voting share capital, received a partial response from public shareholders. The acquirers accepted all tendered shares, totaling 17,00,000 equity shares representing 14.02% of the fully diluted equity share capital.
| Parameter: | Target | Actual |
|---|---|---|
| Offer Price: | ₹10.00 | ₹10.00 |
| Shares Targeted: | 31,52,994 | 17,00,000 |
| Shares Accepted: | 31,52,994 | 17,00,000 |
| Offer Size: | ₹3,15,29,940 | ₹1,70,00,000 |
Shareholding Structure
Following the completion of the open offer, the acquirers' combined shareholding in Harmony Capital Services Limited stands at 72,00,000 shares, representing 59.37% of the fully diluted equity share capital. This includes 55,00,000 equity shares acquired through a preferential issue representing 45.35% stake, which remains pending approval from BSE Limited.
| Shareholding Details: | Pre-Offer | Post-Offer |
|---|---|---|
| Acquirers' Holding: | 0 shares (0.00%) | 72,00,000 shares (59.37%) |
| Public Shareholding: | 30,00,900 shares (100.00%) | 49,26,900 shares (40.63%) |
Offer Timeline and Process
The open offer was conducted over a 15-day period from February 11, 2026 to February 25, 2026. Consideration payment to accepting shareholders was completed on March 12, 2026. The offer was managed by Bonanza Portfolio Limited, with Purva Sharegistry (India) Private Limited serving as the registrar.
Regulatory Compliance
The acquirers have fulfilled their obligations under SEBI (SAST) Regulations, 2011, by publishing the post-offer advertisement in Financial Express (English daily-All Editions), Jansatta (Hindi daily-All Editions), and Mumbai Lakshadeep (Marathi Daily-Mumbai Edition). The detailed public statement was initially published on November 27, 2025, with a corrigendum issued on February 10, 2026.
Company Information
Harmony Capital Services Limited (CIN: L67120MH1994PLC288180) is registered at WeWork Lightridge, 6th Floor, Corporate No. 137, Hiranandani Business Park, Saki Vihar Road, Tunga Village, Chandivali, Mumbai, Maharashtra, 400072. The company can be contacted at 8928039945 or through their website www.hcsi.co.in .
Will BSE Limited's pending approval of the preferential issue affect the acquirers' control strategy or timeline for Harmony Capital Services?
How might the lower-than-expected response rate (54% of targeted shares) impact the acquirers' future consolidation plans for HCSL?
What strategic changes or operational improvements might the new majority shareholders implement at Harmony Capital Services following their 59.37% stake acquisition?
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