Wealth Mine Networks Limited has submitted a corrigendum to the Letter of Offer and revised schedule for the open offer acquisition of Nirbhay Colours India Limited equity shares, addressing delays in the commencement of the offer period and implementing interest compensation measures.

Corrigendum Submission and Regulatory Compliance

Wealth Mine Networks Limited formally submitted the corrigendum to multiple regulatory authorities and stakeholders. The submission was addressed to Nirbhay Colours India Limited, the Securities and Exchange Board of India (SEBI), and BSE Limited, informing them of the revised schedule due to delays in the offer commencement.

The corrigendum was published in multiple newspapers including Jansatta (Hindi), Financial Express (English and Gujarati), and Navshakti (Marathi) to ensure comprehensive public disclosure.

Revised Schedule of Activities

The corrigendum introduces significant changes to the original timeline, with the most notable being the delay in the offer opening date. The revised schedule maintains regulatory compliance while accommodating operational requirements.

The public announcement date of December 12, 2025, and the detailed public statement publication date of December 19, 2025, remain unchanged from the original schedule.

Interest Compensation Mechanism

Due to the four-day delay in the offer opening, the acquirers have committed to paying interest compensation to participating shareholders. This compensation mechanism ensures fairness and regulatory compliance under SEBI regulations.

Independent Directors Committee Recommendation

The Committee of Independent Directors, chaired by Ms. Sonal Gandhi, has provided its recommendation on the open offer. The committee comprises three members who have evaluated the offer's fairness and reasonableness.

The committee confirmed that the offer price of ₹10 per equity share complies with SEBI (SAST) Regulations 8(1) and 8(2), and recommended that shareholders independently evaluate the offer based on their individual circumstances.

Regulatory Framework and Compliance

The corrigendum ensures full compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. The revised schedule accommodates regulatory requirements while maintaining transparency and investor protection standards.

Wealth Mine Networks Limited, serving as the manager to the offer with SEBI registration number INM000013077, has confirmed that all statutory requirements and escrow arrangements remain in place to fulfill the acquirers' obligations under the revised timeline.

Craftroof Retail Limited (formerly known as Nirbhay Colours India Limited) has received a copy of the Detailed Public Statement (DPS) published in newspapers on December 20, 2025, regarding the open offer made by seven acquirers. The company informed BSE Limited about receiving the newspaper advertisement copy under Regulation 30 disclosure requirements.

Open Offer Publication Details

The DPS was published in multiple newspapers including Financial Express (English - All editions) and Gujarat editions covering Ahmedabad and Mumbai markets. The publication follows the earlier revised DPS filing where Wealth Mine Networks Limited corrected the publication date from December 19 to December 20, 2025.

Acquirer Group and Offer Structure

Seven acquirers are collectively making the open offer: Mr. Dakshesh Rameshchandra Shah, Mr. Dhruvin Shah, Mrs. Sheetal Shah, Mrs. Anar Jayeshbhai Patel, Ms. Sanskruti Jayeshbhai Patel, Mr. Jayesh Patel, and M/s. Seher Retail Private Limited. The offer targets 42.38% of the emerging voting capital.

Triggering Transaction Details

The mandatory open offer was triggered following a Share Purchase Agreement executed on December 12, 2025, where the acquirer group purchased 6,74,300 equity shares representing 20.13% voting rights at ₹10.00 per share, totaling ₹67,43,000.00.

Company Information and Compliance

Craftroof Retail Limited is listed on BSE Limited with scrip code 526349 and ISIN INE218T01010. The company has total paid-up equity share capital of ₹3.35 crores comprising 33,50,000 equity shares of ₹10.00 each. The open offer is being conducted under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, with Wealth Mine Networks Limited serving as the manager under SEBI registration number INM000013077.