Key Quantitative Figures

  • Offer Price: ₹54 per equity share
  • Total Shares: Up to 6,54,966 fully paid-up equity shares of face value ₹10 each
  • Total Offer Size: ₹3,53,68,164 (Three Crore Fifty Three Lakh Sixty Eight Thousand One Hundred Sixty Four)
  • Percentage of Voting Capital: 26%
  • Target Company PAT (FY2026): ₹51.45 lakh
  • Target Company PAT (FY2025): ₹49.66 lakh
  • Target Company PAT (FY2024): ₹48.67 lakh
  • Target Company Net Worth (Mar 31, 2026): ₹1,004.31 lakh
  • Target Company Borrowings (Mar 31, 2026): ₹38.99 lakh

Dates of Action

  • Public Announcement Date: June 18, 2026
  • Detailed Public Statement Publication: June 25, 2026
  • Draft Letter of Offer Submission to SEBI: July 03, 2026
  • SEBI Observation Letter Received: July 22, 2026 (Ref: HO/49/12/11(76)2026-CFD-RAC-DCR2I/16994/2026)
  • Identified Date: July 24, 2026
  • Letter of Offer Dispatch: Electronic mode on July 29, 2026; Physical mode on July 31, 2026
  • Independent Directors Committee Recommendation: Unanimously approved August 04, 2026; published August 05, 2026
  • Offer Opening Date (Tendering Period Start): August 07, 2026
  • Offer Closing Date (Tendering Period End): August 20, 2026
  • Last Date for Payment/Return of Shares: September 04, 2026
  • Post-Offer Announcement Publication: September 11, 2026

Parties Involved

Acquirers:

  • Annjana Dugar (Acquirer 1)
  • Likhitta Dugar (Acquirer 2)
  • Antariksh Dugar (Acquirer 3)

Person Acting in Concert: Padam Dugar

Target Company: Colinz Laboratories Limited

Manager to Offer: Saffron Capital Advisors Private Limited

Registrar to Offer: Bigshare Services Private Limited

Regulator: Securities and Exchange Board of India (SEBI)

Stock Exchange: BSE Limited

Purpose and Rationale

The Acquirers along with the PAC propose to acquire control of Colinz Laboratories Limited with the objective of driving long-term growth and enhancing stakeholder value. The acquisition is aligned with their strategy of making long-term investments in businesses with established operations and growth potential. The Acquirers believe the Target Company, being engaged in manufacturing, marketing and exporting pharmaceutical formulations, has strong business foundation and significant growth opportunities. They intend to leverage their collective business, financial and managerial capabilities to strengthen operational performance, improve efficiencies and support sustainable growth while continuing the existing business.

Financial and Operational Impact

  • The Open Offer is not conditional upon any minimum level of acceptance
  • No revision in Offer Price of ₹54 per share
  • The Acquirers and PAC will be classified as Promoters post-offer completion
  • Existing Promoter (Seller under Share Purchase Agreement) will cease to be classified as Promoter
  • Other members of Promoter Group not parties to Share Purchase Agreement will remain part of promoter group
  • Target Company is neither incurring losses nor has negative net worth or substantial borrowings

Key Updates in Letter of Offer

  • Shareholding disclosures updated based on latest BENPOS as of Identified Date (July 24, 2026)
  • Confirmation that no competing offers exist and last date for competing offers has expired
  • Clarification that existing Promoters not parties to Share Purchase Agreement cannot tender shares
  • Updated experience details of Acquirers and PAC
  • Insertion of financial data certification from Statutory Chartered Accountant dated July 28, 2026
  • Confirmation of no regulatory actions against Target Company, its promoters and directors
  • Confirmation of no stock exchange fines against Target Company under SEBI LODR Regulations
  • Updated closing price reference for Offer Price justification

Procedure for Participation

Dematerialized Shareholders: Tendering through selling brokers via BSE Acquisition Window before market close on last day of Tendering Period.

Physical Shareholders: Participation through selling brokers by providing original share certificates, Form SH-4, duly filled Form of Acceptance (or plain paper application if not received), and other required documents. Documents must reach Registrar within 2 days of Offer Closing date by 5:00 PM IST.

Documents Availability

Letter of Offer along with Form of Acceptance-Cum-Acknowledgement and SH-4 available on websites of SEBI (www.sebi.gov.in), BSE (www.bseindia.com), and Registrar (www.bigshareonline.com).