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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.

Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split

Data sourced from BSE India corporate announcements. More categories will be added over time.

Krishna Capital and Securities Ltd

Krishna Capital: Draft Open Offer for 18,04,508 shares at Rs. 20/share filed

M&A ◆ Monitor Closely MEDIUM RISK

📅 Filed on BSE: 13 Apr 2026, 06:55 PM IST · BSE ID: 6cee74b6-33a4-4977-85be-5f49fa8bb8b1

View Original BSE Filing (PDF)

💡

In Simple Terms

Two individuals who just bought the company's 43% stake are now legally required to offer to buy public shareholders' remaining stake at Rs. 20 per share.

🤖 AI Summary

Draft Open Offer filed for 18,04,508 shares at Rs. 20/share (5.44% of voting capital)
Triggered by prior 42.87% stake acquisition (13,53,892 shares) completed March 26, 2026
Acquirers: Ashu Bishnoi and Yagnik Tank; Manager: Grow House Wealth Management Private Limited
Offer value: Rs. 3,60,90,160 (18,04,508 × Rs. 20) — mandatory public shareholder acquisition
Filed under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011

🔢 Key Numbers — exact figures from BSE filing, not rounded

Open Offer Size

18,04,508 shares

Offer Price per Share

Rs. 20.00

Total Open Offer Value

Rs. 3,60,90,160

Voting Capital Percentage

5.44%

Prior Promoter Stake Acquisition

13,53,892 shares (42.87%)

Prior Stake Acquisition Price

Rs. 20.00 per share

Face Value per Share

Rs. 10.00

🏢 How This Affects the Company

📈

Business Impact

Open Offer will consolidate ownership under new acquirers. Upon completion, acquirers will hold approximately 48.31% of voting capital (42.87% + 5.44%), triggering full change-of-control dynamics.

💰

Financial Impact

Public shareholders will receive Rs. 20 per share in cash for tendered equity shares. Total outflow from acquirers estimated at Rs. 3,60,90,160 for the open offer portion.

⚠️

Risk Impact

Change of control introduces execution risk on acquirer's commitment to fund the open offer (Rs. 3,60,90,160 cash requirement). Existing management continuity uncertain post-completion.

👥 What This Means For Shareholders

✅

Action Required

Public equity shareholders should await final Letter of Offer (post-SEBI approval) and Form of Acceptance to decide tendering. No action required until final offer document is circulated.

👤

Who Is Affected

18,04,508 public equity shares (5.44% voting capital) held by non-promoter shareholders eligible to tender at Rs. 20/share. Promoter group (42.87% stake) excluded — already sold on March 26, 2026.

🔍

Management Signal

Acquirers' commitment to complete acquisition and fund Rs. 3,60,90,160 open offer indicates intent to consolidate full operational control with fresh strategic direction.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events

SEBI approval of final Letter of Offer — typically 10-15 working days from draft filing date

Announcement of tendering period window and Form of Acceptance cum Transfer Deed circulation

Reg 31A(10) filing confirming completion of open offer and new promoter reclassification post-closure

MEDIUM RISK Acquirer's ability to mobilize Rs. 3,60,90,160 cash for open offer completion unverified. Regulatory approval required; tendering outcome uncertain pending shareholder response.

💡 Investor Takeaway

Draft Open Offer for 18,04,508 shares at Rs. 20/share filed following March 26, 2026 completion of 42.87% stake sale to Ashu Bishnoi and Yagnik Tank. Acquirers obligated under SEBI regulations to offer public shareholders identical pricing. Total open offer outlay: Rs. 3,60,90,160. Regulatory approval and tendering period to follow.

⚖️ Strengths & Concerns

✅ Positives

Transparent regulatory process under SEBI takeover code; draft offer submitted within statutory timelines.
Fixed offer price (Rs. 20/share) provides certainty to public shareholders; no variable or conditional pricing.

⚠️ Concerns

Public shareholders have only 5.44% of voting capital eligible for open offer — limited size relative to promoter 42.87% already acquired.
Tight regulatory timeline for completion (typically 30 days) creates execution pressure on acquirer's capital mobilization.

📅 Company Track Record

Krishna Capital and Securities Limited (CIN: L67120GJ1994PLC023803) incorporated 1994; BSE-listed with trading code 539384. Prior stake sale (42.87%, 13,53,892 shares at Rs. 20/share) approved by Board on March 26, 2026, and Share Purchase Agreement executed same date. This open offer represents continuation of change-of-control transaction.

Based on publicly available historical data. For context only.

📑 More from Krishna Capital and Securities Ltd

Krishna Capital Board Meeting to Discuss Q2 FY27 Un-Audited Results

BOARD · 26 Oct 2026

Krishna Capital & Securities Re-appoints Independent Director Meenu Maheswari

MANAGEMENT · 19 Jun 2026

Krishna Capital reappoints Meenu Maheshwari as Independent Director

BOARD · 19 Jun 2026

Krishna Capital Board Meeting April 24 – Q4 FY26 Results Approval

BOARD · 21 Apr 2026

Krishna Capital: Ashu Bishnoi & Yagnik Tank launch Open Offer for 18.05L shares at Rs. 20

M&A · 13 Apr 2026

Krishna Capital appoints Nishant Darak as Independent Director for 5-year term

MANAGEMENT · 08 Apr 2026

All BSE filings we have analysed for Krishna Capital and Securities Ltd.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.