Pasupati Fincap Ltd — Important, 01-01-1970: Company Update

Uday Narang, the new acquirer, has launched an open offer for Pasupati Fincap, seeking to acquire up to 1.22 crore (26.00%) equity shares at ₹12 per share, totaling approximately ₹1.47 crore. This follows his prior acquisition of a 0.54 crore (11.55%) stake from a promoter for ₹0.65 crore, giving him management control. If the open offer is fully accepted, Narang's total holding could reach 37.55%. He plans to continue the company's existing business, with an aim to improve performance and maintain the current workforce. Notably, the company reported a profit after tax of ₹0.34 crore for the recent quarter, despite a negative net worth of ₹0.56 crore.