Ownership & Market Activity › Sub-category
Open Offer / Takeover Battle
69 articles
Takeover battles and open offers are reshaping the Indian corporate landscape, with multiple companies facing mandatory acquisition attempts. Emirates NBD Bank is launching a significant ₹117.35 billion open offer for RBL Bank, while Manoj Agrawal and Amit Kumar Saraogi are pursuing a ₹5.43 crore open offer for Devinsu Trading. Simultaneously, FIH Mauritius Investments is making a substantial ₹3,505.04 crore offer for IIFL Capital Services, aiming to gain control and promoter status. These developments highlight a trend of strategic acquisitions and shifts in ownership, potentially impacting minority shareholders and the broader market dynamics as acquirers seek to consolidate their positions and gain control of listed entities.
Emirates NBD Launches ₹117.35B RBL Bank Open Offer
Emirates NBD Bank makes mandatory open offer to acquire 26% of RBL Bank's expanded voting capital at ₹282.38 per share, totaling ₹117.35 billion.
Offer triggered by investment agreement for preferenti
Sammaan Capital Open Offer Accepts Only 41,110 Shares
Avenir Investment's open offer for Sammaan Capital acquired only 41,110 shares (0.003% stake) versus 34.17 crore shares targeted, utilizing just ₹5.60 lakh against ₹475 crore offer size.
The acquirer'
Midland Polymers Open Offer Schedule Corrigendum
Navigant Corporate Advisors issued a corrigendum to the detailed public statement for an open offer to acquire 26% of Midland Polymers.
The open offer schedule has been revised, pushing key dates incl
Multiple Companies Disclose FY2026 Financial Results
Welcast Steels reports FY2026 net profit of ₹138.09 lakhs, a significant improvement from a ₹530.22 lakh loss in FY2025.
Hemisphere Properties India posts FY2026 net loss of ₹1,122.01 lakhs, widening
Devinsu Trading Open Offer for 26% at ₹355/Share
• Acquirers Jaison Shah, Mukesh Bothra, and Yora Gems launch a mandatory open offer for 26% of Devinsu Trading at ₹355 per share.
• The offer, triggered by an SPA to acquire 29.17% from promoter Denni
Aica Kogyo Stylam Open Offer Results Published
ICICI Securities publishes post-offer advertisement for Aica Kogyo's open offer for Stylam Industries shares.
Offer closed with only 4.66 lakh shares tendered versus 44.06 lakh shares offered at ₹2,25
N2N Technologies Open Offer Receives Zero Tenders
Open offer by Harmony Remedies for 40% of N2N Technologies at ₹4.30/share closed with zero equity shares tendered by public shareholders.
Post-offer advertisement published on May 19, 2026, in Financi
Krishna Capital Open Offer Size Revised to 83.04 Lakh Shares
Krishna Capital & Securities received a corrigendum increasing its mandatory open offer size from 18.04 lakh to 83.04 lakh shares (25.04% stake).
Acquirers Ashu Bishnoi and Yagnik Tank will offer ₹20
Manoj Agrawal Amit Saraogi Cubifin 26% Open Offer
Manoj Agrawal and Amit Kumar Saraogi launch a mandatory open offer for 26% of Cubical Financial Services at ₹2.50 per share.
The offer is triggered by a Share Purchase Agreement to acquire 13.83% from
Kwality Wall's Open Offer Results: 0.01% Acceptance
Kwality Wall's discloses post-offer advertisement for Magnum Ice Cream's mandatory open offer for 26% equity shares at ₹21.33 per share.
The open offer received minimal acceptance of only 142,126 shar
Glittek Granites Open Offer for 26% at ₹12.65/Share
Maheshkumar Thanki and five other acquirers, with PAC Rawmin Mining, launch a mandatory open offer for 26% of Glittek Granites at ₹12.65/share, aggregating ₹8.54 crore.
The offer, triggered by a Share
PPMS Real Estates LLP AVI Products 26% Open Offer
PPMS Real Estates LLP launches open offer to acquire up to 8,59,769 shares (26.00%) of AVI Products India Ltd at ₹33.00 per share.
The acquirer's total holding stands at 62.68% post-acquisition of sha
Shah Foods Independent Directors Committee Open Offer Recommendation
Independent Directors Committee of Shah Foods Limited issues neutral recommendation on open offer for 26% stake at ₹62.50 per share.
Open offer made by Ankit Jalan, Anuj Jalan and seven PACs to acquir
Simandhar Impex Open Offer Receives Zero Share Acceptance
Farmico International's open offer for 25.36% of Simandhar Impex at ₹30/share closed with zero shares tendered by public shareholders.
Acquirer Farmico International successfully acquired 74.64% stake
Shah Foods Independent Directors Approve ₹62.50 Open Offer
Committee of Independent Directors declares open offer by Ankit Jalan and Anuj Jalan consortium fair and reasonable.
Open offer aims to acquire 60,61,900 equity shares representing 26.00% of Shah Food
FIH Mauritius Open Offer for 26% IIFL Capital
FIH Mauritius Investments Ltd launches mandatory open offer for 26% stake (10.01 crore shares) in IIFL Capital Services Ltd at ₹350 per share.
Offer triggered by investment agreement including prefere
PPMS Real Estates LLP AVI Products 26% Open Offer
PPMS Real Estates LLP makes a mandatory open offer to acquire 8,59,769 shares (26.00%) of AVI Products India Ltd at ₹33.00 per share, triggered by earlier acquisitions.
The offer is unconditional, ope
Swarnsarita Open Offer Partially Accepted, 17.05L Shares
Mark Corporate Advisors submits post-offer advertisement for Swarnsarita Jewels open offer completion.
Open offer for 22.97% stake at ₹32.15/share saw partial acceptance of 17,05,843 shares (8.17% vot
TMT India Open Offer for 26% Shares at ₹10
Yoga Builders, Scaffold Properties, and MK Profinlease launch mandatory open offer for 26% of TMT India shares at ₹10 per share.
Offer triggered by share purchase agreements to acquire 52.81% controll
Aar Shyam Open Offer Acquires 2.13 Lakh Shares
Guruomega Private Limited and Man Mohan Katial completed an open offer for 26% of Aar Shyam India Investment Company Limited, acquiring 2,12,628 shares at ₹19.30 per share.
Multiple companies issued r
Indo Borax Open Offer Accepts 7.62% at ₹256.30/Share
Zenrock Chemicals and PACs completed a mandatory open offer for 26% of Indo Borax shares at ₹256.30 per share.
Only 24.44 lakh shares (7.62% of capital) were tendered and accepted versus the offered 8
Sammaan Capital Open Offer Receives 0.01% Tender Response
Discloses tender status for Avenir Investment's open offer to acquire 26.05% of Sammaan Capital.
Only 41,110 equity shares (0.01% of offer size) were tendered into the escrow demat account.
Tendered s
Ankit Jalan Open Offer for 26% of Shah Foods
Ankit and Anuj Jalan launch mandatory open offer for 26% of Shah Foods Limited at ₹62.50/share, triggered by preferential allotment and share purchase agreement.
Offer size is 60,61,900 shares totalin
Northvale Capital Acquires 26% IDream Film via Open Offer
Sobhagya Capital submits delayed post-offer advertisement for Northvale Capital's open offer to acquire 26% stake in IDream Film Infrastructure.
Open offer for 7.03 crore shares at ₹10 each was fully
Sammaan Capital Open Offer Receives 0.01% Tender
Avenir Investment's open offer for 26.05% of Sammaan Capital received 41,110 shares tendered, representing just 0.01% of the offer size.
The tender update is based on the escrow demat account statemen
Sammaan Capital Open Offer Receives 0.01% Tender
Discloses tender of 40,535 shares (0.01% of offer size) in Sammaan Capital open offer escrow account.
Specifies that 40,245 shares were tendered on April 28, 2026, per escrow account statement.
Clarif
Fabino Enterprises Open Offer for 26% at ₹20/share
• Aryaman Financial announces open offer for 5.46 lakh Fabino Enterprises shares (26% stake) at ₹20 per share, triggered by acquirers' purchase of 56.82% from promoters.
• Acquirers R G Family Trust,
Sammaan Capital Open Offer Receives 290 Share Tenders
Open offer by Avenir Investment and IHC Capital for 26.05% stake in Sammaan Capital receives only 290 equity shares tendered.
Tendered shares represent 0.00% of the total offer size of 34.17 crore sha
Asgard Alcobev Open Offer Acquires 26% Stake
Navigant Corporate Advisors issued a post-offer advertisement for an open offer by Ronak Jain, Sarita Jain, Priyanka Jain, and K K Impex & Trading Private Limited to acquire up to 9,17,41,759 equity s
Sammaan Capital Open Offer Receives Zero Share Tenders
Open offer by Avenir Investment and IHC Capital for 26.05% of Sammaan Capital received zero equity share tenders from public shareholders.
The offer size was 34.17 crore equity shares, but no shares w
Manappuram Finance Open Offer Zero Acceptance Result
Post-offer advertisement discloses zero shares tendered in Bain Capital's open offer for 26% of Manappuram Finance.
Offer price was INR 248.29 per share, but no shares were acquired from public shareh
Amphenol Completes ADC India Open Offer Acquisition
Amphenol Corporation discloses acquisition of 14 ADC India shares via completed open offer under SEBI takeover regulations.
The transaction grants Amphenol indirect control over 72.02% of ADC India's
Sammaan Capital Open Offer Receives Zero Share Tenders
Open offer by Avenir Investment for 26.05% stake in Sammaan Capital received zero equity share tenders from public shareholders.
Disclosure confirms nil shares tendered in escrow demat account as of A
Sammaan Capital Open Offer Receives Zero Tenders
Open offer by Avenir Investment for 26.05% of Sammaan Capital received zero equity share tenders from public shareholders.
Disclosure based on escrow demat account statement received by the manager on
Amphenol Completes ADC India Open Offer Acquisition
Amphenol Corporation completed open offer for 26% of ADC India Communications shares at ₹1,233.59 per share, totaling ₹147.54 crore.
Truhome Finance announced e-auctions for three mortgaged properties
Sammaan Capital Open Offer Receives Zero Share Tenders
Open offer by Avenir Investment and IHC Capital for 26.05% of Sammaan Capital received zero equity share tenders from public shareholders.
The offer size was 34.17 crore equity shares with face value
Kwality Wall's Open Offer for 26% at ₹21.33/Share
Kwality Wall's discloses open offer by Magnum HoldCo for 26% equity at ₹21.33/share, totaling acquisition of 61.09 crore shares.
Independent directors committee deemed offer price fair per SEBI SAST r
AAA Technologies Open Offer Opens at ₹101 per Share
Mark Corporate Advisors announces the opening of an open offer to acquire 26% of AAA Technologies at ₹101 per share.
The offer price of ₹101 per share was deemed fair by the target company's independe
Manappuram Finance Open Offer Receives Zero Share Tenders
Disclosure confirms zero equity shares tendered by public shareholders in Bain Capital's open offer for 26% of Manappuram Finance.
The open offer by BC Asia Investments and seven PACs sought to acquir
Sammaan Capital Open Offer Receives Zero Share Tenders
Discloses that zero equity shares were tendered into the escrow account for Avenir Investment's open offer to acquire 26.05% of Sammaan Capital.
The disclosure is based on the escrow demat account sta
Manappuram Finance Investors Become Promoters Post Open Offer
• Manappuram Finance intimated SEBI that BC Asia Investments entities became promoters after a mandatory open offer received zero tenders.
• The change in control followed a completed preferential sha
Photon Capital Open Offer Accepts 32 Shares
Mark Corporate Advisors submitted a post-offer advertisement for Sreeram Reddy Vanga's open offer for Photon Capital Advisors.
The open offer to acquire up to 26.13% stake at ₹115 per share closed wit
Smart Services Open Offer for 25% of Sharp India
Smart Services Private Limited launches mandatory open offer for 64.86 lakh shares (25%) of Sharp India Ltd at ₹10 per share.
Offer follows acquisition of 75% stake from Sharp Corporation via Share Pu
AAA Technologies IDC Recommends ₹101 Open Offer
Independent Directors Committee of AAA Technologies unanimously recommends the open offer price of ₹101 per share as fair and reasonable under SEBI SAST Regulations.
The recommendation was published i
Sammaan Capital Open Offer Receives Zero Share Tenders
Open offer by Avenir Investment and IHC Capital for 26.05% of Sammaan Capital received zero equity share tenders from public shareholders.
The offer for 34.17 crore shares showed no participation in t
Manappuram Finance Open Offer Receives Zero Share Tenders
• Kotak Mahindra Capital discloses zero equity shares tendered in Bain Capital's open offer for 26% of Manappuram Finance as of April 17, 2026.
• The open offer aimed to acquire up to 24.42 crore shar
Farmico International Open Offer for 25.36% Simandhar Impex
Farmico International launches open offer to acquire 7,75,310 equity shares (25.36%) of Simandhar Impex at ₹30 per share.
Independent Directors Committee confirms offer price of ₹30 per share as justi
Manappuram Finance Open Offer Receives Zero Shares
Discloses zero equity shares tendered by public shareholders in Bain Capital's open offer for 26% of Manappuram Finance.
The disclosure is based on the escrow demat account statement received from Ven
Senthil Infotek Open Offer for 26% at ₹8/Share
Senthil Infotek discloses receipt of a detailed public statement for a mandatory open offer by Kolli Murali Krishna and Gogineni Srinivas.
Acquirers will purchase up to 13.13 lakh shares (26% stake) f
Manappuram Finance Open Offer Receives Zero Share Tenders
• Kotak Mahindra Capital discloses zero equity shares tendered in Bain Capital's open offer for Manappuram Finance as of April 16, 2026.
• The open offer aimed to acquire up to 24.42 crore shares repr
Bhaum Digital Ventures Jolly Plastic 26% Open Offer
Bhaum Digital Ventures launches open offer for 26% stake (63.38 lakh shares) in Jolly Plastic Industries at ₹10 per share.
Independent Director Committee recommends the offer price of ₹10 per share as
AAA Technologies 26% Open Offer at ₹101/Share
Jyotirgamya Advisory and Ashok Chordia launch mandatory open offer for 26% of AAA Technologies at ₹101 per share, triggered by a 34.38% promoter stake acquisition.
Offer period runs from April 23 to M
Simandhar Impex Independent Directors Recommend Open Offer
Committee of Independent Directors recommends shareholders accept open offer from Farmico International at ₹30 per share.
Offer price deemed fair and reasonable based on book value, negative profitabi
Manappuram Finance Open Offer Receives Zero Share Tenders
• Kotak Mahindra Capital discloses zero equity shares tendered in Bain Capital's open offer for 26% of Manappuram Finance.
• The disclosure reflects dematerialized shares in the escrow account as of A
Smart Services Launches ₹6.49Cr Sharp India Open Offer
Navigant Corporate Advisors appointed as Manager for an open offer by Smart Services Private Limited to acquire up to 64.86 lakh shares.
The offer, triggered by a Share Purchase Agreement to buy 75% f
Manappuram Finance Open Offer Receives Zero Share Tenders
Kotak Mahindra Capital discloses that zero equity shares were tendered by public shareholders in the open offer for Manappuram Finance.
The open offer, managed by Kotak Mahindra Capital, sought to acq
Manappuram Finance Open Offer Receives Zero Shares
Discloses zero equity shares tendered by public shareholders in Bain Capital's open offer for Manappuram Finance as of April 13, 2026.
Specifies shares are subject to validation per SEBI SAST regulati
Switching Technologies Gunther Open Offer IDC Recommendation
Independent Directors Committee recommends open offer by acquirers for 26% stake at ₹66/share.
Offer price of ₹66 exceeds SEBI-calculated price of ₹65.22 and negotiated price of ₹30.
Committee confirm
Manappuram Finance Open Offer Receives Zero Shares
Disclosure to BSE/NSE confirms zero equity shares tendered by public shareholders in Bain Capital's open offer for Manappuram Finance.
The offer is for acquiring up to 24.42 crore shares, representing
Magnum HoldCo Kwality Walls 26% Open Offer
Mandatory open offer by Magnum HoldCo to acquire up to 61.09 crore shares (26% stake) in Kwality Walls India at INR 21.33 per share pursuant to SEBI SAST Regulations.
Offer follows completion of under
Manappuram Finance Open Offer Receives Zero Tenders
Disclosure confirms zero equity shares were tendered by public shareholders in the Bain Capital-led open offer for Manappuram Finance.
The open offer aimed to acquire up to 24.42 crore shares, represe
Zenrock Chemicals Open Offer for 26% Indo Borax
Zenrock Chemicals Private Limited, along with three Persons Acting in Concert (PACs), is making an open offer to acquire up to 83,43,400 equity shares (26.00%) of Indo Borax & Chemicals Limited from p
Manappuram Finance Open Offer Receives Zero Shares
Disclosure to BSE and NSE confirming zero equity shares were tendered by public shareholders in the open offer for Manappuram Finance as of April 8, 2026.
The open offer aimed to acquire up to 24.42 c
Manappuram Finance Open Offer Receives Zero Shares
Disclosure confirms zero equity shares tendered by public shareholders in Bain Capital's open offer for 26% stake in Manappuram Finance.
Open offer was managed by Kotak Mahindra Capital for BC Asia In
Senthil Infotek Open Offer for 26% at ₹8/Share
Synfinx Capital announces a mandatory open offer for Senthil Infotek Limited triggered by the acquirers' purchase of a 62.9% controlling stake from the existing promoters.
The offer is for up to 13,13
Manappuram Finance Open Offer Zero Shares Tendered
Disclosure confirms zero equity shares tendered by public shareholders in Bain Capital's open offer for 26% stake in Manappuram Finance as of April 7, 2026.
The tender is subject to validation of docu
Manappuram Finance Open Offer Receives Zero Share Tenders
Disclosure confirms zero equity shares tendered in open offer for Manappuram Finance Limited as of April 7, 2026.
Open offer by BC Asia Investments consortium sought to acquire up to 24.42 crore share
BBU Enterprises Open Offer for 26% of STGL
Open offer by BBU Enterprises, Touristas Horizons, and Nikhil Pujari to acquire up to 637,000 shares (26%) of Switching Technologies Gunther Limited at ₹66 per share.
Offer triggered by share purchase
Avenir Investment Sammaan Capital Open Offer 26.05%
Avenir Investment RSC Ltd and IHC Capital Holding LLC launch a mandatory open offer to acquire up to 34.17 crore equity shares representing 26.05% of Sammaan Capital Limited at ₹139 per fully paid sha