Technojet Consultants Ltd: Open Offer for 26% stake at ₹48/share

Navigant Corporate Advisors Ltd, acting as Manager to the Offer, has submitted a Draft Letter of Offer to SEBI for an open offer to acquire up to 1,82,000 equity shares of Technojet Consultants Ltd (TCL). This represents 26.00% of the company's emerging equity and voting share capital. The offer price is ₹48 per share. The acquisition is being made by Mr. Nimesh Sahadeo Singh, who is making a substantial acquisition of shares and voting rights accompanied by a change in control, as per SEBI (SAST) Regulations, 2011. The offer is not conditional on minimum acceptance and no statutory approvals are currently required, except as detailed in the draft letter. The offer is not a competing offer, and there have been no revisions to the offer price as of the filing date.