Mark Corporate Advisors Private Limited has published the Detailed Public Statement (DPS) for an open offer by Mr. Sreeram Reddy Vanga to acquire shares in Photon Capital Advisors Limited, while TVS Credit Services Limited reported its quarterly financial results.

Open Offer for Photon Capital Advisors

Mark Corporate Advisors Private Limited, acting as Manager to the Open Offer, published the DPS on January 28, 2026, in compliance with SEBI (SAST) Regulations, 2011. The statement was published across multiple newspapers including Business Standard (English and Hindi editions), Navshakti (Marathi), and Nava Telangana (Telugu).

Acquisition Details

Mr. Sreeram Reddy Vanga, a 47-year-old technology professional with 20 years of experience, is making an open offer to acquire up to 7,11,000 fully paid-up equity shares of Photon Capital Advisors Limited. The key parameters of the offer include:

Transaction Structure

The open offer follows Vanga's Share Purchase Agreement dated January 20, 2026, with promoter group sellers to acquire 9,97,000 equity shares representing 36.64% of the Emerging Voting Share Capital at ₹115.00 per share, totaling ₹11,46,55,000. Additionally, Vanga will participate in a preferential issue to acquire 4,85,000 equity shares representing 17.83% of the Emerging Voting Share Capital.

Target Company Profile

Photon Capital Advisors Limited, incorporated in 1993 and listed on BSE (scrip code: 509084), operates as management advisory services consultants. The company's registered office is located at Plot No. 90-A, Road No. 9, Jubilee Hills, Hyderabad. The company's equity shares are infrequently traded on BSE, with only 0.59% annualized trading turnover.

Financial Arrangements

Vanga has established adequate financial arrangements for the offer, with a net worth of ₹48,980.23 lakhs as certified on January 16, 2026. An escrow account has been opened with Yes Bank Limited containing ₹30,00,000, representing 36.69% of the maximum consideration payable.

TVS Credit Services Q3 FY26 Results

TVS Credit Services Limited reported robust financial performance for the quarter ended December 31, 2025. The company's standalone results showed strong growth across key metrics:

For the nine months ended December 31, 2025, TVS Credit reported total income of ₹5,346.61 crores compared to ₹4,954.93 crores in the corresponding period of the previous year. Net profit after tax for the nine-month period reached ₹657.60 crores versus ₹541.34 crores in the previous year.

Key Financial Indicators

The company maintained a strong financial position with net worth of ₹5,801.58 crores and a debt-equity ratio of 4.63. The net profit margin stood at 14.55% for Q3 FY26, demonstrating efficient operational performance. The company's paid-up equity share capital remained at ₹239.67 crores with a face value of ₹10 per share.

Both announcements reflect significant corporate developments, with the Photon Capital transaction representing a strategic acquisition in the advisory services sector and TVS Credit demonstrating continued growth in the financial services industry.

Photon Capital Advisors Limited has informed the stock exchanges about an upcoming board meeting scheduled for January 20, 2026, to deliberate on a significant fund raising proposal. The meeting will be held at the company's registered office to consider various fund raising options through different securities instruments.

Fund Raising Proposal Details

The board will evaluate a comprehensive fund raising strategy involving multiple securities instruments. The proposal encompasses the issuance of various financial instruments designed to strengthen the company's capital base.

Regulatory Framework and Approvals

The fund raising initiative will be conducted in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other applicable laws. The company has outlined a structured approval process to ensure full regulatory compliance.

The proposal requires multiple levels of approval, including:

• Shareholder approval through Postal Ballot or Extraordinary General Meeting
• Statutory and regulatory authority approvals as required
• Compliance with applicable securities regulations

Trading Window Restrictions

Photon Capital Advisors Limited has implemented trading window restrictions for designated persons and their immediate relatives. The trading window, which closed on January 1, 2026, will remain closed until 48 hours after the board meeting outcome declaration.

The extended closure will continue until 48 hours after the declaration of unaudited standalone and consolidated financial results for the third quarter ended December 31, 2025. This measure ensures compliance with insider trading regulations and maintains market integrity during the fund raising evaluation period.

Corporate Governance and Communication

The company has maintained transparency by providing prior intimation under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal communication to BSE Limited demonstrates adherence to regulatory disclosure requirements and corporate governance standards.

The board meeting agenda also includes provisions for transacting other matters with the Chairperson's permission, allowing flexibility for additional business considerations. This structured approach reflects the company's commitment to comprehensive decision-making and stakeholder communication throughout the fund raising process.