Nature of Disclosure: This is a Public Announcement (PA) issued pursuant to Regulations 3(1) and 4 read with Regulations 13, 14 and 15(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("SEBI (SAST) Regulations, 2011"). It announces a mandatory open offer triggered by the acquisition of a substantial stake and control in Colinz Laboratories Limited.

Manager to the Offer: Saffron Capital Advisors Private Limited (CIN: U67120MH2007PTC166711, SEBI Registration: INM000011211) has been appointed as the Manager to the Open Offer.

Offer Details:

  • Offer Size: The acquirers and PAC offer to acquire up to 6,54,966 fully paid-up equity shares of face value ₹10 each.
  • Percentage of Capital: This represents 26% of the voting share capital of the Target Company.
  • Offer Price: The offer is made at a price of ₹54 per equity share.
  • Total Consideration: The total outflow, assuming full acceptance, will be ₹3,53,68,164 (Three Crore Fifty Three Lakh Sixty Eight Thousand One Hundred Sixty Four).
  • Mode of Payment: The consideration will be paid in cash.
  • Type of Offer: This is a triggered, mandatory offer, not a voluntary or delisting offer.

Triggering Transaction: The open offer obligation was triggered by the execution of a Share Purchase Agreement (SPA) dated June 18, 2026, between the Acquirers and the Seller, Vijaya Mani.

  • Shares Acquired: 8,70,500 equity shares.
  • Percentage Acquired: 34.56% of the voting share capital.
  • Purchase Price: ₹50 per equity share.
  • Total Transaction Value: ₹4,35,25,000 (Four Crore Thirty Five Lakh Twenty Five Thousand).
  • Mode of Payment: Cash.

Details of Acquirers and PAC:

The acquirers are Annjana Dugar (Acquirer 1), Likhitta Dugar (Acquirer 2), and Antariksh Dugar (Acquirer 3). Padam Dugar is the Person Acting in Concert (PAC). They are immediate relatives (spouse and children).

Pre-Transaction Shareholding (Acquirers & PAC):

  • Annjana Dugar: 40,000 shares (1.59%)
  • Likhitta Dugar: 11,000 shares (0.44%)
  • Antariksh Dugar: 11,000 shares (0.44%)
  • Padam Dugar (PAC): 3,16,000 shares (12.54%)
  • Total Pre-Transaction Holding: 3,78,000 shares (15.01%)

Post-Trigger Shareholding (Excluding Open Offer):

After acquiring the 8,70,500 shares from the Seller:

  • Annjana Dugar: 5,54,500 shares (22.01%)
  • Likhitta Dugar: 1,89,000 shares (7.50%)
  • Antariksh Dugar: 1,89,000 shares (7.50%)
  • Padam Dugar (PAC): 3,16,000 shares (12.54%)
  • Total Post-Trigger Holding: 12,48,500 shares (49.56%)

Details of Selling Shareholder (Vijaya Mani):

Vijaya Mani was part of the promoter and promoter group. She held 8,70,500 shares (34.56%) which were transmitted to her on December 11, 2025, following the demise of the late promoter, Dr. Mani L.S. Post the SPA transaction, she will hold no shares and will be reclassified from promoter to public category.

Target Company Details:

  • Listing: The equity shares are listed only on BSE Limited (Scrip Code: 531210, Scrip ID: COLINZ, ISIN: INE923C01011).

Other Key Information:

  • Control: Upon completion of the transaction and open offer, the Acquirers and PAC will acquire control over the Target Company and will be identified as co-promoters, exercising joint control with the existing promoter group.
  • Public Shareholding: A note acknowledges that post-transaction, public shareholding may fall below the minimum requirement (25%). The acquirers undertake to take necessary steps to comply with minimum public shareholding norms within permitted timelines.
  • Conditionality: The open offer is not conditional upon any minimum level of acceptance.
  • Financial Arrangements: The acquirers have confirmed adequate financial resources and firm arrangements to meet the obligations of the open offer.
  • Next Steps: A Detailed Public Statement (DPS) will be published in newspapers on or before Thursday, June 25, 2026.