The Independent Directors Committee (IDC) of Harmony Capital Services Limited has formally recommended the open offer made by Mr. Rajesh Ghosh and Dorni Vinimoy Private Limited, stating that the proposed acquisition terms are fair and reasonable for shareholders. The recommendation was submitted to BSE Limited on February 09, 2026, following the committee's unanimous approval.

Open Offer Details

The open offer is being conducted under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The acquirers seek to purchase equity shares from public shareholders of the target company through a structured acquisition process.

Independent Directors Committee Composition

The IDC consists of two independent and non-executive directors who have no shareholding or contractual relationships with the target company. Both committee members confirmed they have not traded any equity shares or securities of Harmony Capital Services Limited during the 12 months prior to the public announcement.

Committee's Assessment and Recommendation

The IDC reviewed multiple offer documents including the Public Announcement dated November 20, 2025, Detailed Public Statement published November 27, 2025, Draft Letter of Offer dated December 04, 2025, and Letter of Offer dated January 29, 2026. The committee determined that the offer price aligns with Regulation 8(2) of SEBI SAST Regulations.

Key factors considered in the recommendation include:

• The company's equity shares are infrequently traded on BSE within the meaning of Regulation 2(1)(j) of SEBI SAST Regulations
• The offer price of ₹10 per equity share is justified under the parameters prescribed in Regulations 8(2) of SEBI SAST Regulations
• The offer complies with provisions of Regulations 3(1) and 4 read with Regulations 13, 14, and 15(1) of SEBI SAST Regulations

Company Information

Harmony Capital Services Limited operates with Corporate Identification Number L67120MH1994PLC288180. The company's registered office is located at WeWork Lightbridge, 6th Floor, Corporate No. 137, Hiranandani Business Park, Sakhi Vihar Road, Tunga Village, Chandivali, Mumbai, Maharashtra, India, 400072.

Transaction Management

Bonanza Portfolio Limited serves as the Manager to the Offer, with CIN U65991DL1993PLC052280. The manager's office is situated at Bonanza House, Plot No. M-2, Cama Industrial Estate, Walbhat Road, Behind The Hub, Goregaon (East), Mumbai - 400 063. The IDC recommendation has been published in Financial Express (English daily), Jansatta (Hindi daily), and Mumbai Lakshadweep (Marathi Daily) newspapers as required under regulatory provisions.

A. K. Capital Services Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, following the board meeting held on February 07, 2026. The company delivered robust performance across both standalone and consolidated operations while declaring a substantial interim dividend for shareholders.

Financial Performance Overview

The company's standalone operations demonstrated strong growth momentum during Q3FY26:

Consolidated Results

The consolidated financial results showed even stronger performance, reflecting the group's diversified business portfolio:

Nine Months Performance

For the nine months ended December 31, 2025, the company maintained strong growth trajectory:

Dividend Declaration

The Board of Directors declared the second interim dividend for FY2025-26:

Regulatory Compliance

The financial results were prepared in accordance with Indian Accounting Standards and reviewed by M/s. PYS & Co. LLP, Chartered Accountants, who issued an unmodified opinion on both standalone and consolidated results. The company maintains compliance with SEBI LODR Regulations and has filed the required statements under Regulation 52(7) for its listed commercial papers worth ₹35 crores.