Krishna Capital and Securities Ltd — Important, 01-01-1970: Company Update

Krishna Capital is undergoing a significant change in ownership and control. Acquirers Ashu Bishnoi and Yagnik Tank have announced an open offer to acquire up to 18.05 lakh shares, representing 5.44% of the company, at ₹20 per share, valuing the offer at ₹3.61 Cr. This open offer stems from an agreement to acquire 13.54 lakh shares from current promoters for ₹2.71 Cr and a planned preferential issue of 2.35 Cr new shares to themselves. Post-transaction, the acquirers will hold 80.40% ownership, taking full control. The current promoters will step down. The company aims to maintain its listing status, adhering to public shareholding requirements, subject to RBI approval.