Octaware Technologies Limited, a company listed on the Indian stock exchange, has announced a significant change in its top leadership. Anwer Hussien Bagdadi, the Chief Executive Officer of the company, has submitted his resignation, marking the end of his tenure at the helm of the organization.

Key Details of the Resignation

Implications and Next Steps

The resignation of a CEO is a significant event for any company, and Octaware Technologies is no exception. In his resignation letter, Bagdadi has requested the company to inform relevant statutory and regulatory authorities about this change. This includes notifying:

• The Registrar of Companies
• Stock exchange(s)
• Other concerned bodies as per applicable laws and regulations

Bagdadi's Parting Words

In his communication to the Board of Directors, Bagdadi expressed gratitude to his colleagues for their support during his tenure as CEO. He also wished for the continued growth and success of Octaware Technologies in its future endeavors.

Company's Response

As of now, Octaware Technologies Limited has not announced a successor to Bagdadi. The company's board will likely initiate the process of finding a new CEO to lead the organization forward.

This leadership change comes at a time when companies across the tech sector are facing various challenges and opportunities. How this transition will impact Octaware Technologies' strategic direction and operational performance remains to be seen.

Investors and stakeholders will be keenly watching for any further announcements from the company regarding its leadership transition plan and any potential shifts in corporate strategy that may follow this change at the top.

Octaware Technologies Limited has become the target of an open offer by Walking Tree Technologies Private Limited, which aims to acquire up to 26.02% stake in the IT solutions provider. This move could significantly alter the ownership structure of Octaware Technologies.

Key Details of the Open Offer

• Walking Tree Technologies aims to acquire up to 9,34,400 equity shares, representing 26.02% of the voting share capital of Octaware Technologies.
• The offer price is set at ₹30.00 per share, payable in cash.
• The total consideration for the open offer amounts to ₹2.80 crore.
• The tendering period is scheduled from October 8-23, 2025.

Background of the Acquisition

The open offer follows a share purchase agreement where Walking Tree Technologies will acquire a 34.76% stake (12,48,000 shares) from Octaware's promoter, Mohammed Aslam Qudratullah Khan, at ₹25.00 per share. This initial acquisition triggered the mandatory open offer under SEBI regulations.

Current Shareholding and Post-Offer Scenario

• Walking Tree Technologies currently holds an 11.14% stake (4,00,000 shares) in Octaware Technologies.
• Post the share purchase agreement and assuming full acceptance of the open offer, Walking Tree Technologies could potentially hold up to 71.92% of Octaware's voting share capital.

Financial Arrangements

Walking Tree Technologies has made firm financial arrangements for the implementation of the offer, depositing ₹1.00 crore in an escrow account with Yes Bank Limited.

Implications for Octaware Technologies

Upon completion of the acquisition, Walking Tree Technologies is set to become a joint promoter of Octaware Technologies, potentially exercising joint control over the company's management and affairs alongside existing promoters.

Rationale for the Acquisition

The acquisition aligns with Walking Tree Technologies' strategy to strengthen its position in the IT sector. The company aims to leverage its experience and expertise to revive and grow Octaware Technologies' business performance.

Market Impact

The offer price of ₹30.00 per share represents a premium over the current market price, which could potentially benefit the public shareholders of Octaware Technologies.

Shareholders of Octaware Technologies are advised to carefully consider the offer details and seek independent financial advice before making a decision on tendering their shares.

As the IT sector continues to evolve rapidly, this acquisition could potentially create synergies and enhance the competitive position of both companies in the market.