Esaar (India) Limited has experienced a significant change in its ownership structure as Prabhat Capital Investments Limited acquired a substantial stake in the company through an off-market purchase.

Acquisition Details

Prabhat Capital Investments Limited acquired 6,34,688 shares (3.10%) of Esaar India Limited through an off-market purchase agreement dated February 14, 2025. The transaction was completed on December 8, 2025.

Shareholding Impact

As a result of this acquisition:

• Prabhat Capital's total shareholding in Esaar India increased from 1.08% to 4.19%
• This represents 8,56,236 shares out of the company's total equity capital of 2,04,42,500 shares

Shareholding Details

Market Implications

This off-market purchase signifies a strategic move by Prabhat Capital Investments Limited to increase its stake in Esaar India. The transaction has reshaped the company's ownership structure.

Conclusion

The acquisition marks a notable development for both Prabhat Capital Investments and Esaar India. Shareholders and market observers may monitor any potential changes in Esaar's operations or direction following this significant increase in Prabhat Capital's shareholding.

Esaar (India) Limited 's open offer from Prabhat Capital Investments Limited has concluded with a significantly lower-than-expected response, according to a post-offer advertisement submitted by Navigant Corporate Advisors Limited.

Offer Details

The open offer aimed to purchase up to 53,15,050 equity shares, representing 26% of the voting share capital of Esaar. The offer price was set at Rs. 8.00 per share, potentially valuing the deal at Rs. 4,25,20,400.

Minimal Response

Despite the sizeable offer, the actual response was minimal:

• Only 1,548 shares were tendered and accepted during the offer period
• The total value of accepted shares amounted to just Rs. 12,384, a fraction of the proposed amount

Shareholding Impact

The outcome of the open offer has resulted in a significant deviation from the intended shareholding structure:

Market Communication

The post-offer advertisement was published in Financial Express, Jansatta, and Pratahkal newspapers, fulfilling regulatory requirements under SEBI's Substantial Acquisition of Shares and Takeovers Regulations, 2011.

Implications

The minimal response to the open offer suggests a lack of interest from Esaar's shareholders in divesting their holdings at the offered price. This outcome may prompt Prabhat Capital Investments Limited to reassess its acquisition strategy for increasing its stake in the target company.

Despite the low acceptance rate, the open offer process has been completed in compliance with regulatory requirements, as evidenced by the timely publication of the post-offer advertisement and the involvement of Navigant Corporate Advisors Limited as the manager to the offer.

Investors and market observers will likely be watching closely to see how Prabhat Capital proceeds following this unexpected outcome, and whether it will pursue alternative methods to increase its stake in Esaar in the future.