Navigant Corporate Advisors Limited has submitted the Letter of Offer to the Securities and Exchange Board of India (SEBI) regarding the open offer for Oxford Industries Limited . The offer, made by Acquirer Saroj Kumar Choudhury, seeks to acquire up to 15,45,271 equity shares of Rs. 10/- each, representing 26.00% of the fully paid-up equity and voting share capital of the Target Company, at a price of Rs. 5/- per equity share. The offer opens on June 12, 2026, and closes on June 25, 2026.

Offer Details

The open offer is a mandatory offer triggered pursuant to the execution of a Share Purchase Agreement (SPA) dated March 12, 2026, through which the Acquirer is acquiring 25,97,370 equity shares constituting 43.70% of the share capital from existing promoters. The Acquirer currently holds 1,64,200 shares, representing 2.76% of the paid-up capital. Upon completion of the offer, assuming full acceptance, the Acquirer will hold 43,06,841 shares, representing 72.46% of the voting share capital. The offer is not subject to any minimum level of acceptance.

Financial Arrangements

Assuming full acceptance, the maximum consideration payable by the Acquirer is Rs. 77,26,355. The Acquirer has deposited Rs. 20.00 Lacs in an escrow account with Axis Bank Limited, which is in excess of 25% of the Offer Consideration. The Acquirer’s net worth was certified at Rs. 194.35 Lacs as on March 12, 2026. The Offer Price of Rs. 5/- is justified based on the highest of the negotiated price of Rs. 3.62/- per share under the SPA and the volume-weighted average price of Rs. 5.00 paid by the Acquirer during the 52 weeks preceding the Public Announcement.

Risk Factors and Auditor's Report

The Independent Auditor’s Report for the financial year ended March 31, 2025, contains a qualified opinion highlighting material uncertainty regarding the company’s ability to continue as a going concern. The company reported a net loss of ₹50.31 lacs in FY 2024-25, with accumulated losses of ₹1,347.71 lacs resulting in the complete erosion of its net worth. Additionally, the audit trail feature in the accounting software was not enabled at the database level as required under the Companies (Audit and Auditors) Rules, 2014.

Schedule of Activities

The table below outlines the revised schedule of activities for the open offer:

Oxford Industries Limited has announced that its board meeting is scheduled to be held on Thursday, May 28, 2026. The meeting will convene at 04:00 p.m. at the company's registered office located at 136-B, Ansa Industrial Estate, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai.

The primary agenda for the meeting is to consider and approve the audited financial results of the company for the quarter and year ended March 31, 2026. Additionally, the board will review the audited report accompanying these financial statements.

Key Agenda Items

The board will deliberate on several specific matters during the session:

• Consideration and approval of the Audited Financial Results for the Quarter and Year ended March 31, 2026.
• Appointment of an Internal Auditor for the Financial Year 2026-27.
• Discussion on any other item with the permission of the Chair.

The meeting is being held in compliance with Regulation 29(1) and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Director Kattakota Satyabati Devi on May 21, 2026.