CMX Holdings (formerly SIEL Financial Services Limited) has undergone significant changes in its ownership structure, with the recent completion of an open offer to public shareholders.

Open Offer Details

Mark Corporate Advisors Private Limited has published a post-offer advertisement for the open offer, as required under SEBI regulations. The advertisement appeared in Business Standard (English), Navshakti (Marathi), and Indore Samachar (Hindi) newspapers.

Previous Ownership Change

This open offer follows a significant corporate restructuring that occurred earlier:

Company Structure

CMX Holdings has the following equity share capital structure:

Implications

The completion of the open offer, following the earlier divestment by CMX Holdings, represents a significant shift in the company's ownership structure. The entry of Mr. Amay Vatsalya as the acquirer through the open offer may lead to new strategic directions or operational changes for the company.

Stakeholders and market observers will likely be watching closely for any subsequent announcements or changes in the company's strategy following these ownership changes. The financial services sector's evolving landscape means that such transitions can often lead to new opportunities or challenges for the companies involved.

Mr. Amay Vatsalya has announced an open offer to acquire up to 29,49,500 equity shares, representing 26% of CMX Holdings Limited (formerly SIEL Financial Services Limited), at ₹9.70 per share. This move follows a share purchase agreement to acquire a controlling stake in the company.

Key Details of the Open Offer

• Offer Price: ₹9.70 per equity share
• Number of Shares: Up to 29,49,500 equity shares (26% stake)
• Total Consideration: ₹2,86,10,150.00
• Tendering Period: September 30, 2025 to October 14, 2025

Background of the Transaction

The open offer has been triggered by a share purchase agreement between Mr. Vatsalya and the current promoter, Mrs. Aveen Kaur Sood. Under this agreement, Mr. Vatsalya will acquire 58,70,902 shares (51.75% stake) from Mrs. Sood at ₹7.00 per share.

About the Acquirer

Mr. Amay Vatsalya, 27, holds a Bachelor of Business Administration degree from Amity University, Uttar Pradesh. He has about 5 years of experience in operation management, export logistics, and sales & marketing.

Impact on CMX Holdings

Currently, CMX Holdings is not carrying out active business operations but has income from financial services. The change in control may lead to potential changes in the company's operations and management.

Regulatory Compliance

The open offer is mandatory under SEBI regulations and is unconditional with no minimum acceptance level. The acquirer has deposited ₹1,15,00,000.00 in an escrow account to demonstrate the ability to fulfill the offer obligations.

Implications for Shareholders

Eligible shareholders of CMX Holdings have the opportunity to tender their shares at ₹9.70 per share during the offer period. This represents a premium over the price at which the controlling stake is being acquired from the promoter.

Future Outlook

While specific plans have not been disclosed, the acquisition may lead to changes in CMX Holdings' business strategy and operations. Shareholders and market observers will be watching closely for any announcements regarding the company's future direction under new management.

The open offer provides an exit opportunity for existing shareholders at a fixed price, while potentially marking the beginning of a new chapter for CMX Holdings under Mr. Vatsalya's leadership.