Akash Sethi Launches Open Offer for Shree Pacetronix Limited at ₹100 Per Share
Akash Sethi and persons acting in concert have initiated a mandatory open offer to acquire up to 9,75,000 equity shares (26%) of Shree Pacetronix Limited at ₹100 per share. The offer, valued at ₹9.75 crore, follows a Securities Subscription Agreement for a preferential issue. The acquirer group's stake could increase from 24.25% to 55.09% post-offer, assuming full acceptance and warrant conversion. Shree Pacetronix, a BSE-listed manufacturer of life-saving devices, will continue under the acquirer group's management post-offer.
Shree Pacetronix Limited approved a preferential issue to raise Rs 2.43 crore through equity shares and warrants. The company reported a 10.07% increase in revenue and a 79.91% rise in net profit for Q1 FY2026 compared to Q1 FY2025. The board reappointed Atul Kumar Sethi as Managing Director for three years, and the 37th AGM is scheduled for September 3, 2025. The company's stock saw significant movement on the BSE following these announcements.