Devinsu Trading Limited

Key Quantitative Figures

The open offer is for acquisition of up to 152,880 fully paid-up equity shares of face value ₹10 each, representing 26.00% of the voting share capital of Devinsu Trading Limited. The offer price is ₹355.00 per equity share.

Dates of Action

  • Recommendation approved by IDC: August 12, 2026
  • Publication in newspapers: August 13, 2026
  • Public Announcement date: May 20, 2026
  • Detailed Public Statement date: May 27, 2026
  • Letter of Offer date: August 04, 2026

Parties Involved

Target Company: Devinsu Trading Limited (CIN: L51900MH1985PLC036383)

Acquirers:

1. Mr. Jaison Vijay Shah (Acquirer 1)

2. Mr. Mukesh Kumar Bothra (Acquirer 2)

3. Yora Gems & Jewellery Private Limited (Acquirer 3)

Manager to the Offer: Mark Corporate Advisors Private Limited (SEBI Reg. No.: INM000012128)

Independent Directors Committee Members:

1. Mr. Umakant Kashinath Bijapur (DIN: 07269181) - Chairman

2. Mr. Sahil Jain (DIN: 11521946) - Member

3. Ms. Sangita Hiren Shukla (DIN: 11647378) - Member

Committee Assessment and Rationale

The IDC reviewed the Public Announcement (May 20, 2026), Detailed Public Statement (May 27, 2026), and Letter of Offer (August 04, 2026). The committee unanimously determined that the offer price of ₹355.00 per equity share is in accordance with applicable SEBI regulations and accordingly is fair and reasonable.

The committee noted that the offer price exceeds the highest price amongst the selective criteria mentioned in the justification of offer price (though specific comparative prices are not provided in this document).

Conflict of Interest Disclosures

  • IDC members are independent directors of Devinsu Trading Limited with no equity holding
  • No members have any contract or relationship with the acquirers
  • No members traded in Target Company securities during the 12 months preceding the public announcement or between the public announcement date and this recommendation
  • No independent advisors were engaged for this recommendation

Publication Details

The recommendation was published in the following newspapers on August 13, 2026:

  • Business Standard (English - All Editions)
  • Business Standard (Hindi - All Editions)
  • Navshakti (Marathi - Mumbai Edition)

Voting Pattern

The recommendations were unanimously approved by all members of the IDC present at the meeting held on August 12, 2026.

Additional Matters

No other matters require highlighting beyond what is contained in this statement. The committee confirms that to the best of their knowledge, the information contained is true and correct in all material respects.