Deniis Desai Announces Open Offer to Acquire 26% Stake in Devinsu Trading at ₹350 Per Share
Deniis Desai has made an open offer to acquire up to 26% of Devinsu Trading's emerging voting capital at ₹350 per share, totaling ₹5.73 crores if fully subscribed. The offer, running from September 2-16, 2025, is part of a larger transaction including a share purchase agreement and proposed preferential allotment. If successful, Desai could potentially hold up to 53.22% of the company's emerging voting capital, leading to a change in control. The offer price is justified based on an independent valuation of ₹348.21 per share.
23Jul 25
Deniis Desai Announces Open Offer to Acquire 26% Stake in Devinsu Trading at ₹350 Per Share
Deniis Desai has made an open offer to acquire up to 1,63,800 equity shares (26% stake) in Devinsu Trading at ₹350 per share, totaling ₹5.73 crores. This follows a share purchase agreement for 14.52% stake from the current promoter and a board-approved preferential issue. The offer, opening on September 2, 2025, and closing on September 16, 2025, provides an exit opportunity for shareholders at a premium. Desai has deposited the full consideration in an escrow account, demonstrating financial capability for the transaction.