Sunil Kumar Shaha Announces Open Offer for 26% Stake in SER Industries at Rs. 35 Per Share

In a significant development for SER Industries Limited, Mr. Sunil Kumar Shaha has announced an open offer to acquire up to 2,57,294 shares, representing 26% of the company's voting share capital, from public shareholders at Rs. 35.00 per share. This move follows a Share Purchase Agreement dated May 22, 2025, marking a potential shift in the company's ownership structure.

Key Details of the Open Offer

• Offer Size: Up to 2,57,294 shares (26% of voting share capital)
• Offer Price: Rs. 35.00 per share
• Total Consideration: Rs. 90,05,290.00 (assuming full acceptance)
• Manager to the Offer: Swaraj Shares and Securities Private Limited

Background of the Acquisition

The open offer comes on the heels of a Share Purchase Agreement executed on May 22, 2025. Under this agreement, Mr. Sunil Kumar Shaha agreed to purchase 5,21,545 shares, representing 52.70% of the voting share capital, from existing selling promoter shareholders at Rs. 35.00 per share. The total value of this initial acquisition amounts to Rs. 1,82,54,075.00.

Selling Promoter Shareholders

The existing selling promoter shareholders include:

1. M/s Narendra Goel HUF
2. Ms. Savita Goel
3. Mr. Varun Goel
4. Mr. Anirudh Goel
5. Mr. Aditya Goel
6. Ms. Ridha Goel
7. Mr. Siddhant Goel
8. Mr. Narendra Goel
9. M/s H. G. Cargocare Limited

Regulatory Compliance

The open offer is being made in compliance with Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, including subsequent amendments.

Committee of Independent Directors' Recommendations

As required by SEBI regulations, the Committee of Independent Directors of SER Industries Limited has published their recommendations regarding the offer. These recommendations were published on Monday, August 18, 2025, in various newspapers including Financial Express (English daily), Jansatta (Hindi daily), Mumbai Lakshadeep (Marathi daily), and Prajavani (Kannada Daily).

Implications for Shareholders

This open offer provides an opportunity for public shareholders of SER Industries Limited to tender their shares at Rs. 35.00 per share. Shareholders are advised to carefully consider the offer details and the recommendations of the Independent Directors before making their decision.

The announcement of this open offer and the preceding share purchase agreement signify a potential change in the control and management of SER Industries Limited. Stakeholders and market observers will be keenly watching how this development unfolds and its impact on the company's future direction.