Skybridge Interactive LLP has announced an open offer to acquire equity shares of Baba Arts Limited under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The offer targets up to 1,32,92,000 equity shares representing 25.32% of the company's equity and voting share capital at ₹6.00 per share.

Open Offer Details

The open offer follows a share purchase agreement executed on February 25, 2026, between Skybridge Interactive LLP and promoter seller Gordan Prabhudas Tanwani. Under this agreement, the acquirer will purchase 3,92,00,000 equity shares representing 74.67% of Baba Arts Limited's equity capital.

Acquirer Information

Skybridge Interactive LLP is a limited liability partnership incorporated on January 11, 2022, under the Limited Liability Partnership Act, 2008. The company's registered office is located at 30, Floor 2nd, Plot 327, Nawab Building, D.N. Road, Hulatma Chowk, Fort, Mumbai, Maharashtra, India, 400001.

The acquirer's primary business involves manufacturing, processing, designing, and developing online and offline games relating to live sports events, entertainment, and educational games of skill. As of February 26, 2026, the acquirer's capital contribution stands at ₹32,14,81,094 with a net worth of ₹32,14,80,000.

Target Company Profile

Baba Arts Limited, originally incorporated as Galaxy Digi Systems Limited on March 30, 1999, is engaged in producing, developing, and exhibiting digital systems for pre-production, post-production, and software for commercial films, TV serials, and digital broadcasting channels. The company's registered office is situated at B1 & B4, Baba House, 86, M.V. Road, Andheri (East), Chakala MIDC, Mumbai - 400093.

The company's equity shares are listed on BSE Limited with scrip code 532380 and ISIN INE830A01036. The total issued, subscribed, and paid-up equity share capital comprises 5,25,00,000 equity shares of ₹1.00 each.

Financial Arrangements

Skybridge Interactive LLP has confirmed adequate financial resources to meet the open offer obligations through internal resources without any borrowings. In compliance with Regulation 17 of the SEBI (SAST) Regulations, the acquirer has opened an escrow account with Kotak Mahindra Bank Limited and deposited ₹2,01,00,000, representing more than 25% of the offer consideration.

Bonanza Portfolio Limited has been appointed as the Manager to the Offer, while Purva Sharegistry (India) Private Limited serves as the Registrar to the Offer. Aikyam Capital Private Limited has been designated as the buying broker for the transaction.

Offer Timeline

The detailed public statement was published on March 5, 2026, following the public announcement dated February 25, 2026. The tendering period is scheduled to commence on April 27, 2026, and close on May 11, 2026. The last date for communicating acceptance or rejection and completing payment is May 25, 2026.

All public shareholders of Baba Arts Limited, excluding the acquirer, existing promoters, and parties to the share purchase agreement, are eligible to participate in the open offer. The offer will be implemented through the stock exchange mechanism provided by BSE Limited.

Baba Arts Limited is subject to an open offer announcement by Skybridge Interactive LLP for the acquisition of equity shares under SEBI's Substantial Acquisition of Shares and Takeover (SAST) Regulations. The comprehensive offer involves the acquisition of a significant stake in the Mumbai-based company, with detailed regulatory compliance measures in place.

Open Offer Details

Skybridge Interactive LLP has announced an open offer to acquire up to 1,32,92,000 equity shares of Baba Arts Limited at ₹6.00 per share. The offer represents 25.32% of the company's total equity and voting share capital, with each share having a face value of ₹1.00.

The offer size is restricted to shares held by public shareholders, as per SEBI (SAST) Regulations requirements. While the standard requirement mandates at least 26.00% of total equity and voting share capital, this offer is limited to available public shareholding.

Underlying Transaction Details

The open offer has been triggered by a Share Purchase Agreement executed on February 25, 2026, between Skybridge Interactive LLP and the selling shareholder Mr. Gordhan Prabhudas Tanwani. Through this agreement, the acquirer will purchase 3,92,00,000 equity shares representing 74.67% of the company's equity and voting share capital.

Acquirer Information

Skybridge Interactive LLP, the acquiring entity, is based in Mumbai with its registered address at 30, Floor 2nd, Plot 327, Nawab Building, D.N. Road, Hutatma Chowk, Fort, Mumbai. The LLP has designated partners Mr. Devang Dinesh Master and Mr. Ayush Devang Master, along with Skybridge Incap Advisory LLP as a partner. Prior to this transaction, the acquirer held no shares in Baba Arts Limited.

Target Company Profile

Baba Arts Limited, incorporated with CIN L72200MH1999PLC119177, operates from its registered office at B1 & B4, Baba House, 86, M.V Road, Andheri (East), Mumbai. The company's equity shares are listed on BSE Limited under scrip code 532380 and scrip ID BABA.

Regulatory Compliance and Timeline

Bonanza Portfolio Limited serves as the Manager to the Offer, holding SEBI registration number INM000012306. The Detailed Public Statement will be published in newspapers within 5 working days of the public announcement, on or before March 05, 2026. The acquirer has confirmed intentions to retain the listing status of Baba Arts Limited, with no delisting offer proposed. The offer operates under SEBI (SAST) Regulations 3(1) and 4, ensuring full regulatory compliance throughout the acquisition process.