Kenrik Industries: Open Offer Draft Letter Submitted to Shareholders

VC Corporate Advisors Pvt Ltd, acting as the Manager to the Offer, has submitted a Draft Letter of Offer to the shareholders of Kenrik Industries Ltd. The open offer, made by Darsh Advisory Private Limited, aims to acquire up to 32,49,454 equity shares, representing 26.00% of the total paid-up equity and voting share capital. The offer price is set at Rs. 10 per equity share, payable in cash. This open offer is being made pursuant to SEBI (SAST) Regulations for substantial acquisition of shares accompanied by a change in control and management of Kenrik Industries. No statutory approvals are currently required, but the offer is subject to any that may become applicable. The offer is not conditional on a minimum acceptance level.