Shree Pacetronix Limited , a cardiac pacing devices manufacturer, has disclosed the receipt of a post-offer advertisement for an open offer that could potentially reshape its ownership structure. The open offer, made by Akash Sethi as the Acquirer, along with Atul Kumar Sethi, Amita Sethi, and Ashish Sethi as Persons Acting in Concert (PACs), aims to acquire up to 9,75,000 equity shares, representing 26% of the expanded share capital from public shareholders.

Vivro Financial Services has published a post-offer advertisement for the open offer to acquire up to 9,75,000 equity shares of Shree Pacetronix Limited at Rs. 100.00 per share by Akash Sethi and associates. The advertisement was published in multiple newspapers including Financial Express, Jansatta, Navshakti, and Indore Samachar as required under SEBI takeover regulations.

Key Details of the Open Offer

Regulatory Compliance and Recommendations

The open offer is being made under Regulation 3(1) of SEBI SAST Regulations, following a triggering acquisition. The Committee of Independent Directors has recommended the offer as fair and reasonable. However, public shareholders are advised to independently evaluate the offer and make an informed decision.

Financial Advisors

• Manager to the Offer: Vivro Financial Services Private Limited
• Registrar to the Offer: MUFG Ittehad India Private Limited

Shareholders are encouraged to review the detailed offer documents and seek independent financial advice before making a decision.

Shree Pacetronix Limited 's Independent Directors Committee (IDC) has unanimously recommended the open offer made by Akash Sethi and three persons acting in concert. The offer aims to acquire up to 9,75,000 equity shares, representing 26% of the company's expanded share capital, at ₹100.00 per equity share.

Key Details of the Open Offer

IDC Recommendation and Rationale

The IDC, comprising three independent directors, convened to evaluate the open offer. After careful consideration, the committee concluded that the offer price of ₹100.00 per equity share is fair and reasonable under SEBI regulations.

Key points from the IDC's recommendation include:

1. The offer price aligns with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2. No complaints have been received from public shareholders regarding the open offer process, valuation price, or valuation method.
3. The acquirers, being existing promoters and promoter group members, intend to support the company's sustained growth efforts.

Advice to Shareholders

While the IDC has deemed the offer fair and reasonable, they have advised public shareholders to independently evaluate the open offer and make informed decisions about tendering their shares.

Disclosure and Transparency

The IDC's recommendation will be published in various newspapers, including:

• Financial Express (English)
• Jansatta (Hindi)
• Navshakti (Marathi)
• Indore Samachar (Hindi - Regional)

This move ensures transparency and wide dissemination of information to all stakeholders.

Implications for Shree Pacetronix

The open offer, if successful, could lead to a significant change in the shareholding structure of Shree Pacetronix Limited. With the acquirers already being part of the promoter group, this move may be seen as a consolidation of control within the company.

Investors and market watchers will be keenly observing the response to this open offer, as it could potentially impact the company's future strategic decisions and governance structure.

As the open offer process unfolds, shareholders of Shree Pacetronix Limited are encouraged to stay informed and consult financial advisors if needed before making decisions regarding their shareholdings.