Offer Details

The open offer is made by Misun Pure Lights Private Limited (Acquirer-1), Ravi Prakash Bothra (Acquirer-2), Vaaibhav Bothrra (Acquirer-3), Rajesh Arora (Acquirer-4), and Ashish Arora (Acquirer-5), along with eight Persons Acting in Concert (PACs).

Offer Size: Up to 63,48,500 equity shares (10.04% of expanded voting share capital)

Offer Price: ₹14 per equity share

Total Consideration: ₹8,88,79,000 payable in cash

Offer Type: Triggered Offer under Regulations 3(1) and 4 of SEBI (SAST) Regulations, 2011

Triggering Transaction

The open offer obligation was triggered by a proposed preferential issue of 5,67,51,732 equity shares (74.10% of expanded voting share capital) through share swap agreements dated August 29, 2026. This involves acquisition of:

  • 31,23,479 equity shares of Blisstering Electronics Private Limited (Transferor Company-1)
  • 1,23,12,870 equity shares of Bliss Cab Electronics Private Limited (Transferor Company-2)

The issue price for the preferential shares is ₹14 per share, with consideration paid through issuance of Target Company shares.

Acquirer Shareholding Details

Pre-Transaction Holding: All acquirers and PACs held nil shares in Target Company

Post-Transaction Holding:

  • Acquirers collectively: 3,19,52,352 shares (50.54% of expanded voting capital)
  • PACs collectively: 60,07,500 shares (9.50% of expanded voting capital)
  • Acquirer-1 (Misun Pure Lights): 69,68,967 shares (11.02%)
  • Acquirer-2 (Ravi Prakash Bothra): 1,99,61,325 shares (31.57%)

Target Company Information

Current Share Capital: ₹6,47,46,000 divided into 64,74,600 equity shares of ₹10 each

Expanded Voting Share Capital: 6,32,26,332 equity shares post-preferential allotment

Listing: Equity shares listed on BSE Limited

Board of Directors: Mr. Pratik Ashok Kumar Patwari, Ms. Megha Sharan, Prakash Chand Bokaria, and Anand Kumar Jain

Regulatory Framework

The offer is made pursuant to SEBI (SAST) Regulations, 2011, specifically Regulations 3(1), 4, 13, and 14. The offer size of 10.04% (instead of the mandatory 26%) is justified under Regulation 7(6) as the public shareholding comprises only 10.04% of the expanded voting share capital after excluding ineligible shareholders.

Conditions and Approvals

The open offer and underlying transaction are subject to receipt of required statutory and other approvals, including shareholder approval for the preferential issue.

Additional Information

  • Manager to the Offer: Novus Capital Advisors Private Limited (SEBI Reg. No.: INM000012500)
  • Acquirers have made firm financial arrangements for financing the acquisition
  • No intention to delist the Target Company
  • Detailed Public Statement to be published by September 4, 2026

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