Kapil Raj Finance: Acquirers launch open offer for 26% stake at ₹2.24/share

Novus Capital Advisors Pvt. Ltd. has announced an open offer for Kapil Raj Finance Limited on behalf of acquirers Arpit Agarwal, Megha Agarwal, and Arpit Agarwal HUF. The offer is for the acquisition of up to 9,92,12,282 fully paid-up equity shares, representing 26% of the target company's total expanded voting share capital. Each share is offered at ₹2.24, aggregating to a total cash consideration of ₹22,22,35,512. This offer is made in compliance with Regulations 3(1) and 4 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and follows a proposed preferential issue of 27,21,85,700 equity shares to the acquirers and other allottees.