Devinsu Trading Ltd — Updates, 01-01-1970: Company Update

Mr. Deniis Desai has launched a mandatory open offer for Devinsu Trading Limited, seeking to acquire up to 1.64 lakh equity shares, representing 26% of the emerging voting capital, at ₹350 per share. This ₹5.73 Cr offer was triggered by his purchase of a 14.52% stake from the current promoter and the company's board approving a preferential issue of 1.30 lakh shares, including 80,000 for him. Post-offer, Mr. Desai expects to hold over 53%. The company currently generates no revenue from operations. Independent directors will provide their assessment to shareholders.