Beeline Capital Advisors Private Limited, acting as the Manager to the Offer, has submitted a pre-offer advertisement and corrigendum to BSE Limited regarding an open offer for ECS Biztech Limited (EBL).

The open offer is made by Mr. Rakesh Ramanlal Shah (Acquirer-1) and Komal Infotech Private Limited (Acquirer-2) to acquire up to 53,44,313 equity shares, representing 26.00% of the total paid-up/voting share capital of ECS Biztech Limited. The offer price is set at ₹10.50 per fully paid-up equity share, payable in cash. This offer is being made pursuant to and in compliance with Regulation 3(1) & 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.

The Committee of Independent Directors (IDC) of the Target Company has issued a recommendation, published on September 15, 2026, stating that the Offer Price of ₹10.50 per equity share is in accordance with applicable regulations and is fair and reasonable. Their opinion is based on a review of the Public Announcement, Detailed Public Statement, and Letter of Offer, noting that the offer price is higher than the price determined under Regulations 8(1) and 8(2) of the SEBI (SAST) Regulations and that the equity shares are not frequently traded.

This advertisement also serves as a corrigendum to the Detailed Public Statement published on August 5, 2026, incorporating changes advised by SEBI via its letter dated August 31, 2026 (Ref: HO/49/12/11(84)2026-CFD-RAC-DCR1). A key change is that Komal Infotech Private Limited, previously shown as a Person Acting in Concert (PAC) in earlier documents, is now formally designated as Acquirer-2 in the Letter of Offer.

The Registrar to the Offer, Purva Sharegistry (India) Private Limited, has confirmed that the dispatch of the Letter of Offer to public shareholders as of the Identified Date (September 2, 2026) was completed via electronic and physical modes on September 9, 2026. All public shareholders, including those who acquire shares after the Identified Date, are eligible to participate.

The open offer will be implemented through the stock exchange mechanism provided by BSE Limited, as per SEBI circulars and master circulars. The schedule of activities has been revised:

  • Last date for Independent Directors' Committee recommendation: September 15, 2026 (previously September 9, 2026)
  • Last day for revision of offer price: September 18, 2026 (previously September 15, 2026)
  • Publication of Offer Opening Public Announcement: September 18, 2026 (previously September 16, 2026)
  • Opening of the Offer: September 22, 2026 (previously September 17, 2026)
  • Closing of the Offer: October 6, 2026 (previously September 30, 2026)
  • Date for communication of rejection/acceptance and payment: October 21, 2026 (previously October 15, 2026)

As of the date of this document, no representative of the Acquirers is on the Board of the Target Company, and no statutory approvals are currently required for the open offer, though it remains subject to any approvals that may become applicable later.

Shareholders can tender shares held in physical form by approaching a Selling Broker with the necessary documents. Shareholders holding shares in dematerialized form need to approach their Stock Broker and are not required to fill out a Form of Acceptance. The Letter of Offer and Form of Acceptance are available for download on the websites of SEBI (www.sebi.gov.in), BSE (www.bseindia.com), and the Manager to the Offer (www.beelinemb.com).