Genesis Ibrc India Ltd — Important, 01-01-1970: Company Update

Acquirers Mr. Padmanaban Krishnamoorthy and Ms. V Varalakshmi have launched an open offer for Genesis IBRC India Limited. They aim to acquire up to 26,40,039 shares (20.31% of voting capital) from public shareholders at ₹7.00 per share, totaling ₹1.85 Cr. This follows their prior acquisition of 55.92% of the company's shares for approximately ₹5.09 Cr. Notably, the open offer price is less than the shares' face value of ₹10. The acquisition will occur through an off-market tender offer, with the offer period running from November 26 to December 9. Shareholders cannot withdraw shares once tendered.