Acquirer Group Initiates Open Offer in Onyx Biotec Acquisition
A collective of four individuals, referred to as the Acquirers, has initiated a substantial acquisition process targeting public shareholders of Onyx Biotec Limited (OBL). The move involves both a Share Purchase Agreement (SPA) with existing promoters and an open offer to the general public.The Acquirers—Kunal Bhardwaj, Gautam Bhardwaj, Kanhaiya Bhardwaj, and Kapil Bhardwaj—are in the process of acquiring a significant stake in OBL. The transaction is being facilitated by V C Corporate Advisors Private Limited.
Transaction Scope and Shareholding Details
The acquisition involves two components: the purchase of shares from existing promoters and an open offer to the public market.Under the SPA, which was executed on July 24, 2026, the Acquirers agreed to acquire 3,218,200 fully paid-up equity shares, representing 17.75% of the total paid-up equity and voting share capital of OBL.
The sellers in this SPA are Mr. Fateh Pal Singh and Mr. Sanjay Jain. Prior to entering into the agreement, Mr. Fateh Pal Singh held 2,097,600 shares (11.57%), while Mr. Sanjay Jain held 1,120,600 shares (6.107%).
The open offer component allows the Acquirers to acquire up to 4,714,372 equity shares, constituting 26.00% of OBL's total paid-up equity and voting share capital.
Upon completion of both the SPA and the Open Offer, the aggregate shareholding of the Acquirers is projected to be 70,78,200 equity shares, which represents 39.04% of the total paid-up equity and voting share capital of OBL. Prior to the SPA, the Acquirers held 38,60,000 equity shares, representing 21.29%.
Financial Snapshot of Onyx Biotec Limited (OBL)
As per the Detailed Public Statement (DPS) dated July 31, 2026, OBL reported specific financial metrics for the financial year ending March 31, 2026:| Particulars | FY ended March 31, 2026 | FY ended March 31, 2025 | FY ended March 31, 2024 |
|---|---|---|---|
| Total Revenue | 5387.43 | (Data not provided) | (Data not provided) |
| Net Income | 495.42 | 363.46 | 3.05 |
| EPS | 3.05 | (N/A) | (N/A) |
Market and Offer Details
The Equity Shares of OBL are listed on the Emerge Platform of the National Stock Exchange of India Limited (NSE). The market data reflects strong trading activity for the company. The NSE Emerge platform recorded a total number of equity shares traded during the twelve calendar months as 94,16,000 against the Total No. of Equity Shares of the Target Company at 181.32 lakhs, indicating a trading turnover of 151.93%.The tentative schedule for the Open Offer activities has been set out, with key dates including:
- Date of PA (Public Announcement): July 24, 2026
- Publication of Detailed Public Statement in newspapers: July 31, 2026
- Closing date of Tendering Period: September 30, 2026
ONYX Stock Price Movement
Shares of Onyx Biotec Limited shed value today, closing after slipping by 4.9% to settle at ₹42.95. The equity traded within a range of ₹42.70 and ₹44.80 throughout the session, with total traded volume reaching 172,000 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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