Siel Financial Services Ltd — Updates, 01-01-1970: Company Update

Mr. Amay Vatsalya has announced a board meeting on August 14, 2025, to consider the financial results for the quarter and half-year and propose a dividend, as well as other business matters. He has entered into a share purchase agreement to acquire 51.75% of CMX Holdings Limited from the current promoter at ₹7 per share and is launching an open offer to acquire an additional 26% at ₹9.70 per share to take control of the company. CMX Holdings operates in other financial services, with a paid-up equity capital of ₹113.43 Cr. The company has reported losses in recent years, with a net loss of ₹25.22 lakh in FY25. The acquisition will result in a management change, with the current promoter ceasing to be one. The open offer is unconditional and not subject to any minimum acceptance. The acquirer has adequate resources and has deposited ₹1.15 Cr as escrow towards the offer.