Acquirer Walking Tree Technologies to Acquire 26.02% Stake in Octaware Technologies for ₹ 2.80 Crores via Open Offer

Walking Tree Technologies Private Limited, a private limited company, has entered into a Share Purchase Agreement (SPA) with existing promoters of Octaware Technologies Limited to acquire 12,48,000 equity shares, representing 34.76% of the voting share capital, at a negotiated price of ₹ 25 per share. The total consideration for the acquisition is ₹ 3.00 Crores. As a result, Walking Tree Technologies is making a Triggered Offer under Regulations 3(1) and 4 of the SEBI(SAST) Regulations to acquire up to 9,34,400 additional equity shares, representing 26.02% of the voting share capital, at an Offer Price of ₹ 30 per share, aggregating to ₹ 2.80 Crores. The Offer Price will be paid in cash in accordance with the provisions of Regulation 9(1)(a) of the SEBI (SAST) Regulations.