Duke Offshore: Open Offer for 26% Stake at ₹30 Per Share

Saffron Capital Advisors Pvt Ltd, acting as the Manager to the Offer, has submitted a Draft Letter of Offer to the public shareholders of Duke Offshore Ltd. The open offer is being made by Aspect Global Ventures Private Limited to acquire up to 25,62,872 equity shares, representing 26% of the voting share capital, at a price of ₹30 per share. The total offer size aggregates to ₹7,68,86,160. This open offer is being made pursuant to SEBI (SAST) Regulations, 2011, for substantial acquisition of shares and voting rights accompanied by a change in control. The offer is not conditional on minimum acceptance and there are no competing offers as of the filing date. Statutory approvals are not currently required.