Shree Pacetronix Limited , a company specializing in cardiac pacing technology, has announced the formation of a committee of independent directors to review and provide recommendations on an open offer. This development comes in response to an acquisition bid by Akash Sethi and associated parties.

Open Offer Details

The open offer, as disclosed by Shree Pacetronix, involves the following key points:

• Acquirer: Akash Sethi
• Persons Acting in Concert (PACs): Atul Kumar Sethi, Arnita Sethi, and Ashish Sethi
• Target: Up to 9,75,000 equity shares
• Percentage: 26% of the company's equity share capital
• Offer Price: ₹100.00 per share

Committee Formation

In compliance with Regulation 26(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Shree Pacetronix has established a committee of independent directors. The committee's primary role will be to provide recommendations regarding the open offer.

The composition of the committee is as follows:

Timeline of Events

The company has provided a timeline of key events related to the open offer:

• August 7: Date of the Public Announcement (PA)
• August 14: Publication of the Detailed Public Statement (DPS) in various newspapers
• August 21: Date of the Draft Letter of Offer (DLoF)
• October 15: Formation and announcement of the Independent Directors Committee

This committee formation is a crucial step in the open offer process, ensuring that the interests of all shareholders are considered. The independent directors will review the offer details and provide their recommendations, which will help shareholders make informed decisions regarding the open offer.

Shree Pacetronix Limited, with its 31 years of experience in cardiac pacing, continues to navigate corporate actions while maintaining its focus on 'Technology Serving Humanity'. As this situation develops, shareholders and potential investors should stay tuned for further updates and the committee's recommendations regarding the open offer.

Akash Sethi, along with persons acting in concert (PACs), has launched a mandatory open offer to acquire up to 9,75,000 equity shares of Shree Pacetronix Limited , representing 26% of the expanded share capital. The offer price is set at ₹100 per share, with a total consideration of ₹9.75 crore, assuming full acceptance.

Trigger for Open Offer

The open offer was triggered by a Securities Subscription Agreement executed on August 7, 2025. Under this agreement, the target company's board authorized a preferential issue to the acquirer, including:

• 75,150 equity shares at ₹81 per share
• 75,150 Series A warrants
• 1,50,300 Series B warrants

Details of the Offer

• Offer Size: Up to 9,75,000 equity shares
• Offer Price: ₹100 per share
• Total Consideration: ₹9.75 crore (assuming full acceptance)
• Offer Manager: Vivro Financial Services Private Limited

Current Shareholding and Post-Offer Scenario

The acquirer group currently holds 24.25% of the company's equity capital. Post-offer, assuming full acceptance and conversion of warrants, their shareholding could increase to 55.09% of the expanded share capital.

*Assuming full acceptance of the open offer and conversion of warrants

Company Background

Shree Pacetronix Limited, listed on the BSE, is engaged in the manufacturing of life-saving devices. The company's registered office is located at Plot No. 15, Sector-II, Industrial Area, Pithampur, Dist. Dhar, Madhya Pradesh.

Management Continuity

The acquirer group will continue as promoters in control of the target company following the completion of the open offer.

Investors and shareholders are advised to carefully review the detailed public statement and letter of offer that will be issued in due course for complete information about the open offer.