Kuber Udyog Ltd

Kuber Udyog Ltd announced the Board's approval for the allotment of 7,62,85,000 Equity Shares at ₹23.10 each for cash consideration towards the acquisition of 100% equity shares of Golden Ikon Fleet Management Private Limited, making it a wholly-owned subsidiary. Additionally, 3,95,50,000 Equity Shares were allotted on a preferential basis to non-promoters at ₹23.10 per share. The company also approved the allotment of 37,00,000 warrants at ₹23.10 each, convertible into equity shares within 18 months. The total consideration for Golden Ikon acquisition is ₹176.225 Crores.

Kuber Udyog Ltd announced the Board's approval for the allotment of 7,62,85,000 equity shares for cash consideration towards the acquisition of 100% equity shares of Golden Ikon Fleet Management Private Limited, which will become a wholly-owned subsidiary. Additionally, 3,95,50,000 equity shares and 37,00,000 convertible warrants were allotted on a preferential basis to non-promoters. The equity shares were issued at Rs. 23.10 each, and warrants at Rs. 23.10 each, convertible into equity shares.

Kuber Udyog Ltd has announced that its Board of Directors will convene on October 30, 2026, to consider and approve the unaudited financial results for the quarter and half-year ended September 30, 2026. Concurrently, the company will reopen its trading window 48 hours after the declaration of these results, as per SEBI regulations.

Systematix Corporate Services Ltd, acting as Manager to the Offer, has submitted a Pre-Offer Public Advertisement for an open offer to acquire up to 3,19,71,680 equity shares of Kuber Udyog Limited at ₹23.35 per share. This represents 26.00% of the expanded voting share capital. The offer price of ₹23.35 per share has been deemed fair and reasonable by the Independent Directors' Committee. There is no competing offer, and the offer is being made by Mr. Manav Bahri, Mr. Dinesh Popli, and Mr. Ajay Dutta, along with persons acting in concert. The Detailed Public Statement and Corrigendum were published on August 14, 2026, and October 19, 2026, respectively. The Letter of Offer has been dispatched to eligible shareholders.

Systematix Corporate Services Ltd, acting as Manager to the Offer, has submitted the Independent Directors' Committee (IDC) recommendations to BSE regarding the open offer for Kuber Udyog Limited. The offer, managed by Mr. Manav Bahri, Mr. Dinesh Popli, and Mr. Ajay Dutta along with PACs Trimudra Trade & Holdings Private Limited and Ms. Shraddha Gohil, aims to acquire up to 3,19,71,680 equity shares (26.00% of the expanded capital) at ₹23.35 per share. The IDC, comprising independent directors Mrs. Purvi Patel (Chairperson) and Mr. Akshay Girish Poriya, found no conflicts of interest and have provided their recommendations as per SEBI (SAST) Regulations. These recommendations were published in The Financial Express, Jansatta, and Mumbai Lakshdeep on October 21, 2026.

The Committee of Independent Directors (IDC) of Kuber Udyog Limited has recommended the open offer made by Mr. Manav Bahri, Mr. Dinesh Popli, and Mr. Ajay Dutta, along with Trimudra Trade & Holdings Private Limited and Ms. Shraddha Gohil. The offer is to acquire 3,19,71,680 equity shares, representing 26.00% of the fully diluted share capital, at a price of ₹23.35 per share. The IDC, after due consideration and evaluation of the offer documents and valuation reports, has deemed the offer fair and reasonable. Shareholders are advised to independently assess the offer price against market prices before making a decision.

Systematix Corporate Services Ltd, acting as Manager to the Offer, has submitted a Corrigendum to the Detailed Public Statement for the open offer of Kuber Udyog Limited. The offer is for up to 3,19,71,680 equity shares, representing 26.00% of the expanded voting share capital, at a price of ₹23.35 per share. This corrigendum is in response to SEBI's observation letter dated October 09, 2026, and amends previous announcements. The revised schedule of activities has been published in The Financial Express, Jansatta, and Mumbai Lakshdeep.

Systematix Corporate Services Ltd, acting as the Manager to the Offer, has submitted a Letter of Offer to BSE for Kuber Udyog Ltd's equity shareholders. This pertains to an open offer by Mr. Manav Bahri, Mr. Dinesh Popli, and Mr. Ajay Dutta, along with Trimudra Trade & Holdings Private Limited and Ms. Shraddha Gohil, to acquire up to 3,19,71,680 equity shares, representing 26.00% of the expanded voting share capital. The offer price is ₹23.35 per share, payable in cash. The Letter of Offer, dated October 17, 2026, is scheduled for dispatch to public shareholders by October 21, 2026, following SEBI's final observations. The offer is not conditional on minimum acceptance and no further statutory approvals are required for the acquirers and PACs.

Kuber Udyog Ltd informed that shareholders, at the 44th Annual General Meeting on September 05, 2026, approved an alteration to the Objects Clause of the Memorandum of Association via a special resolution. The Ministry of Corporate Affairs (MCA) subsequently registered this alteration. This change, along with the consequential reclassification of the company's business activity under the National Industrial Classification (NIC) Code, has resulted in a change to the company's Corporate Identification Number (CIN). The previous CIN was L51909MH1982PLC371203, and the new CIN is L49220MH1982PLC371203. The company has completed all necessary formalities.

Kuber Udyog Ltd has announced the closure of its trading window for all designated persons and their immediate relatives. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The window will be shut from October 01, 2026, until 48 hours after the declaration of the un-audited financial results for the quarter and half-year ending September 30, 2026. The specific date for the board meeting to consider these results will be communicated separately.