Date: 28.09.2026

Board Meeting Outcomes

  • Mandatory open offer launched by acquirers for acquisition of up to 26,49,166 equity shares (26.00% of voting share capital) at ₹29 per share
  • Total consideration payable: ₹7,68,25,814
  • Offer triggered under SEBI (SAST) Regulations, 2011 Regulations 3(1) and 3(3)

Transaction Which Has Triggered The Open Offer

  • Share Purchase Agreement dated 28th September, 2026 between acquirers and Mr. Sudhakar Pandurang Sonawane (Seller)
  • Acquisition of 12,22,692 equity shares (12.00% of voting share capital) at ₹25 per share
  • Total consideration for SPA: ₹305.67 lakhs
  • Acquirer-1 (G-Tec Education Private Limited) to acquire 6,11,346 shares (6.00%)
  • Acquirer-2 (Mr. Roychand Chenraj) to acquire 6,11,346 shares (6.00%)

Details of Acquirers

Acquirer-1: G-Tec Education Private Limited

  • Person in control: Mr. Mehroof Manalody
  • Pre-transaction shareholding: 20,38,070 shares (20.00%)
  • Post-transaction shareholding: 26,49,416 shares (26.00%)
  • Relationship: Promoter of Target Company, Mr. Mehroof Manalody (Director of Acquirer-1) is Managing Director of Target Company

Acquirer-2: Mr. Roychand Chenraj

  • Address: 130, Wheeler Road, Cox Town, Bangalore, Karnataka-560005
  • Pre-transaction shareholding: 21,53,724 shares (21.14%)
  • Post-transaction shareholding: 27,65,070 shares (27.14%)
  • Relationship: Non-Executive Chairman and Promoter of Target Company

Details of Selling Shareholder

Mr. Sudhakar Pandurang Sonawane

  • Classification: Yes-Promoter
  • Pre-transaction holding: 20,49,650 shares (20.12%)
  • Post-transaction holding: 8,26,958 shares (8.12%)
  • Note: Seller proposes to seek reclassification from Promoter/Promoter Group to public category subject to SEBI regulations

Offer Details

  • Offer Size: 26,49,166 equity shares (26.00% of voting share capital)
  • Offer Price: ₹29 per fully paid-up equity share
  • Total Consideration: ₹7,68,25,814
  • Mode of Payment: Entire consideration in cash
  • Type of Offer: Mandatory open offer triggered under Regulations 3(1) and 3(3) of SEBI (SAST) Regulations, 2011
  • Conditionality: Not conditional upon any minimum level of acceptance

Other Operational / Legal / Strategic Disclosures

  • Target Company shares listed on NSE under scrip symbol "GTECJAINX" in Series 'EQ'
  • Equity shares are frequently traded on NSE
  • Detailed Public Statement (DPS) to be published in newspapers as per SEBI (SAST) Regulations
  • Acquirers confirm adequate financial resources to meet offer obligations
  • This is not a competitive bid
  • Manager to the Offer: Navigant Corporate Advisors Limited (SEBI Registration No: INM000012243)
  • Contact person: Mr. Sarthak Vijlani