Prabhhans Industries: Open Offer for 15.84% stake at ₹41.30

Novus Capital Advisors Pvt Ltd, acting as the Manager to the Offer, has submitted a Public Announcement regarding an Open Offer for Prabhhans Industries Ltd. Exigo Recycling Private Limited, Mr. Raman Sharma, Mr. Anagh Ojha, and Mr. Pankaj Chopra, along with Ms. Kanika Gurjar and Mr. Ashok Sharma (collectively Acquirers and PACs), are making an Open Offer to acquire up to 54,82,248 equity shares of face value INR 10 each. This represents 15.84% of the total expanded voting share capital of the Target Company. The Offer Price is set at INR 41.30 per equity share, aggregating to a total consideration of INR 22,64,16,843 (₹22.64 Crore) payable in cash. The offer is made in compliance with SEBI (SAST) Regulations, 2011. Although the regulations require an offer size of at least 26%, this offer is restricted to the shares held by existing public shareholders.