SAR Televenture Limited to Acquire 26% Stake in Grand Foundry Limited for Rs. 2.50/- per Share

SAR Televenture Limited has signed a share purchase agreement with the sellers of Grand Foundry Limited to acquire 70.17% of the fully paid-up equity share capital of the Target Company. Following this, SAR Televenture Limited will make an open offer to the public shareholders of Grand Foundry Limited to acquire up to 79,11,800 equity shares, representing 26% of the total paid-up/voting share capital of the Target Company. The offer price is Rs. 2.50/- per equity share, payable in cash. This open offer is a triggered offer in compliance with Regulation 3(1) and 4 of the Takeover Regulations.