Oscar Global Limited's Committee of Independent Directors has given its approval to an open offer by the Gopal Bhatter group, concluding that the acquisition proposal is fair and reasonable for shareholders. The decision was reached during a committee meeting held on December 26, 2025, where independent directors thoroughly analyzed the terms and conditions of the proposed transaction.

Open Offer Details

The open offer involves the acquisition of up to 8,58,000 equity shares by Mr. Gopal Bhatter (Acquirer 1) and M/s Gopal Bhatter HUF (Acquirer 2). This represents 26.00% of Oscar Global Limited's paid-up equity share capital, marking a significant stake acquisition in the company.

Committee Assessment

The Committee of Independent Directors conducted a comprehensive review of the open offer, which was initially announced through a public announcement dated September 30, 2025, and subsequently published on October 8, 2025. The committee also examined the Letter of Offer dated December 19, 2025, before reaching their conclusion.

Sanjeev Rathore, Chairman of the Independent Directors Committee with DIN 08019738, confirmed the committee's unanimous decision regarding the fairness and reasonableness of the offer terms.

Company Information

Oscar Global Limited, incorporated with CIN L51909DL1990PLC041701, operates from its registered office at 1/22, Second Floor, Asaf Ali Road, New Delhi-110002. The company's operational office is located at E-41 & 42 Sector-08, Noida-201301. The company's shares are listed on BSE Limited under security code 530173.

Regulatory Compliance

The open offer process follows the prescribed regulatory framework, with the Committee of Independent Directors fulfilling their fiduciary responsibility to evaluate the proposal's merit for minority shareholders. The committee's approval serves as an important milestone in the acquisition process, providing shareholders with an independent assessment of the offer's fairness.

Oscar Global Limited has finalized the terms for its open offer through the Letter of Offer dated December 24, 2025, with acquirers Mr. Gopal Bhatter and M/s Gopal Bhatter HUF seeking to acquire up to 8,58,000 equity shares representing 26% of the company's equity share capital.

Offer Structure and Pricing

The open offer is priced at ₹12.15 per equity share for fully paid-up shares and ₹7.15 per partly paid-up equity shares, payable in cash. The offer follows the acquisition of 14,46,703 equity shares (43.84% of equity capital) from existing promoters through Share Purchase Agreements at ₹9.00 per share.

Revised Timeline Schedule

The final schedule confirms the January 2026 timeline with key dates for various regulatory and operational activities:

Financial Arrangements and Compliance

The acquirers have established proper escrow arrangements with Kotak Mahindra Bank Limited, depositing ₹26,06,200 representing 25% of the total consideration. Axial Capital Private Limited serves as the manager to the offer, while Purva Sharegistry (India) Pvt. Ltd. acts as the registrar.

Regulatory Status and Company Background

Oscar Global Limited, incorporated in 1990 and listed on BSE (scrip code: 530173), maintains active trading status. The company has a total equity capital of 33,00,000 shares, comprising 32,83,600 fully paid-up shares and 16,400 partly paid-up shares. BSE Limited has levied a fine of ₹73,160 against the company for delayed compliance with LODR regulations.

Acquirer Profile and Objectives

Mr. Gopal Bhatter, a Fellow Chartered Accountant with over 15 years of experience, and M/s Gopal Bhatter HUF aim to achieve substantial acquisition and management control. The acquirers have certified net worth of ₹872.84 lakh and ₹155.44 lakh respectively, ensuring adequate financial resources for the offer completion.

The open offer is mandatory under SEBI (SAST) Regulations and is not conditional upon any minimum level of acceptance. Upon completion, the acquirers will be categorized as promoters of the target company.