ADC India Communications Ltd-$
Kotak Mahindra Capital Company Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Pre-Offer Advertisement in accordance with Regulation 18(7) of the Securities and Exchange ....
M&A
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 01 Apr 2026, 05:24 PM IST · BSE ID: 39d585e5-0ad3-4ef7-9950-417994eb751b
View Original BSE Filing (PDF)
💡
In Simple Terms
Amphenol is offering to buy a quarter of ADC India's shares from regular investors at a fixed price during a two-week window in April 2026.
🤖 AI Summary
- Amphenol open offer targets 11,96,000 ADC India shares (26% voting capital) at INR 1,233.59 per share
- Tendering period: April 2–17, 2026 (10 working days) — identified date March 16, 2026
- Amphenol completed underlying transaction January 9, 2026; now classified as promoter/promoter group
- CommScope entities (direct and indirect subsidiaries of Amphenol) continue as promoter/promoter group post-transaction
- All regulatory approvals obtained; no further statutory approvals required for open offer completion
🔢 Key Numbers — exact figures from BSE filing, not rounded
Open offer size (shares)
11,96,000 fully paid-up equity shares
Offer price
INR 1,233.59 per equity share
Voting capital percentage
26.00%
Identified date
March 16, 2026 (10th working day before tendering commencement)
Tendering period
April 2–17, 2026 (10 working days inclusive)
Underlying transaction completion date
January 9, 2026
Face value per share
INR 10
🏢 How This Affects the Company
Completion of open offer will result in Amphenol holding 26% of ADC India's voting capital directly, consolidating control. ADC India remains a public subsidiary of Amphenol post-offer closure.
Open offer execution does not directly alter ADC India's balance sheet; proceeds go to tendering shareholders, not the company. Amphenol's consolidated cash deployment for the 26% acquisition totals INR 1,473.14 million (11,96,000 shares × INR 1,233.59).
Offer withdrawal remains possible under SEBI Regulation 23(1) only if statutory/governmental approvals are refused or SEBI deems circumstances merit withdrawal. No such approvals outstanding as of LoF date.
👥 What This Means For Shareholders
✅
Action Required
Public shareholders holding ADC India shares must decide by April 17, 2026 whether to tender shares at INR 1,233.59 per share via demat broker or physical form through registrar.
👤
Who Is Affected
All public shareholders of ADC India as of identified date March 16, 2026 are eligible to tender up to their entire holding. Open offer targets 11,96,000 shares (26% of voting capital). Shareholders holding <26% of total acceptance will receive full payment at INR 1,233.59 per share; excess acceptances subject to pro-rata reduction.
🔍
Management Signal
Amphenol's reclassification as promoter post-January 9 acquisition indicates intent to consolidate governance control. Inclusion of CommScope subsidiaries in promoter definition confirms vertical integration strategy within Amphenol group.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
April 17, 2026: Tendering period closure; monitor settlement and shareholding declaration filing
Post-April 17: Amphenol Regulation 31A(10) shareholding reclassification filing confirming final promoter status
Q1 FY27 results: Track ADC India operational metrics and dividend policy under new promoter control
MEDIUM RISK
Offer withdrawal possible under Regulation 23(1) if unforeseen statutory approvals required. Settlement mechanics for pro-rata reduction if acceptances exceed 26% target remains execution risk.
💡 Investor Takeaway
Amphenol open offer for 26% ADC India stake at INR 1,233.59 per share goes live April 2–17, 2026. Underlying acquisition already completed January 9, 2026 with all approvals secured. Public shareholders can tender shares in demat or physical form; no further regulatory hurdles flagged.
⚖️ Strengths & Concerns
✅ Positives
- All statutory and regulatory approvals obtained prior to open offer commencement; zero approval risk remains.
- Clear identified date (March 16, 2026) and 10 working-day tendering window (April 2–17, 2026) ensures transparency.
⚠️ Concerns
- Open offer withdrawal clause under Regulation 23(1) remains active if future statutory approvals become required unexpectedly.
- Public shareholders tendering during April 2–17 window are locked into INR 1,233.59 price with no adjustment mechanism.
📅 Company Track Record
ADC India Communications Limited (CIN: L32209KA1988PLC009313) is a Bengaluru-registered communications infrastructure company. Amphenol Corporation acquired 26% voting stake via conditional open offer at INR 1,233.59 per share announced August 6, 2025. Underlying acquisition completed January 9, 2026 post regulatory approvals. This pre-offer advertisement is the formal launch of public shareholder tendering window.
Based on publicly available historical data. For context only.