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

Mr. Deniis Desai has launched an Open Offer to acquire up to 1.64 lakh equity shares of Devinsu Trading Limited, representing 26% of the company’s emerging voting capital, at ₹350 per share. This offer follows Mr. Desai's acquisition of 91,493 shares from the promoter and the Board's approval for a preferential issue of 1.30 lakh shares, including 80,000 for Mr. Desai. This move aims for majority control, with Mr. Desai's stake reaching approximately 53.22% post-offer. The company plans no major business changes but may explore new areas and capital restructuring. The offer, valued at ₹5.73 crore, is fully funded by Mr. Desai's own resources, whose net worth is ₹13.14 crore.