Octaware Technologies Ltd — Important, 01-01-1970: Company Update

Walking Tree Technologies has announced an open offer to acquire up to 9.34 lakh equity shares, representing 26.02% of Octaware Technologies' voting capital, at ₹30 per share. This offer follows a prior purchase of 12.48 lakh shares (34.76%) from a promoter at ₹25 per share, totaling 3.12 Cr. Post-acquisition, Walking Tree will become a joint promoter, aiming to exercise joint control to revive and grow Octaware in the IT sector. The company intends to maintain the current workforce and existing business operations, with potential for future diversification, marking a strategic shift for Octaware.