Nirbhay Colours India Ltd — Important, 01-01-1970: Company Update

A group of acquirers has launched an Open Offer for Nirbhay Colours India, which is in the process of being renamed Craftroot Retail Limited. The acquirers previously secured a 20.13% stake for ₹0.67 Cr and are now seeking to acquire up to an additional 42.38% of shares at ₹10 each, totaling ₹1.42 Cr. If fully accepted, this would lead to 71.04% ownership. The acquirers aim to drive growth and explore new business avenues for the company. For the period ending December, the company reported total income of ₹1.49 Cr and a net profit of ₹0.01 Cr. An independent committee will provide its view on the offer to public shareholders.