NewsCorporate ActionsHarmony Remedies India Makes Open Offer for N2N Technologies at ₹4.30 Per ShareHarmony Remedies India Makes Open Offer for N2N Technologies at ₹4.30 Per Share
Harmony Remedies India Private Limited has announced an open offer to acquire up to 12,91,228 equity shares (40%) of N2N Technologies Limited at ₹4.30 per share, totaling ₹55.52 lakh. The offer follows an Acquisition of Control Agreement dated October 27, 2025. Harmony Remedies plans to diversify N2N Technologies into the pharmaceutical sector. N2N Technologies' shares are currently suspended from trading, but the company has applied for revocation. The tendering period is from December 18, 2025, to January 1, 2026. Harmony Remedies has deposited ₹56.00 lakh in an escrow account for the offer.
*this image is generated using AI for illustrative purposes only.
Harmony Remedies India Private Limited, along with persons acting in concert Firoze Nariman Kapadia and Aditi Vipin Parikh, has announced an open offer to acquire up to 12,91,228 equity shares of N2N Technologies Limited, representing 40% of the expanded voting share capital. The offer price is set at ₹4.30 per share, with a total consideration of ₹55.52 lakh.
Key Details of the Open Offer
| Detail | Value |
|---|---|
| Acquirer | Harmony Remedies India Private Limited |
| Offer Size | Up to 12,91,228 equity shares |
| Percentage of Expanded Voting Share Capital | 40% |
| Offer Price | ₹4.30 |
| Total Consideration | ₹55.52 lakh |
| Tendering Period | December 18, 2025, to January 1, 2026 |
Background and Implications
The open offer follows an Acquisition of Control Agreement dated October 27, 2025, with existing promoter Rahul Shah and resigning directors. This move signals Harmony Remedies' intent to gain management and operational control of N2N Technologies.
Harmony Remedies has stated its plans to diversify N2N Technologies' operations into the pharmaceutical sector, while evaluating opportunities for restructuring and synergizing with their current business.
Current Status of N2N Technologies
N2N Technologies' shares are currently suspended from trading due to non-payment of annual listing fees. However, the company has filed a revocation of suspension application with BSE on October 24, 2025.
Escrow and Financial Arrangements
Harmony Remedies has deposited ₹56.00 lakh in an escrow account, exceeding the required amount for the offer. This demonstrates their financial commitment to the acquisition.
Implications for Shareholders
Public shareholders of N2N Technologies have the opportunity to tender their shares during the specified period. The offer provides an exit option at a predetermined price, which may be particularly attractive given the current suspension of trading.
Regulatory Compliance
The open offer is being made in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Shareholders are advised to review the detailed terms and conditions in the Letter of Offer before making a decision.
As this corporate action unfolds, it will be crucial to monitor its impact on N2N Technologies' future operations and potential revival of its stock trading status.
19
