Aspect Global Ventures Launches Open Offer for Duke Offshore Ltd Shares at ₹30 Per Share

Aspect Global Ventures Launches Open Offer for Duke Offshore Ltd Shares at ₹30 Per Share​

Aspect Global Ventures Private Limited has initiated a mandatory open offer to acquire equity shares of Duke Offshore Limited (Target Company). The offer aims to secure up to 26% of the voting share capital of the Target Company.

The Acquirer is seeking to purchase up to 25,62,872 fully paid-up equity shares of Duke Offshore Ltd for cash at an Offer Price of ₹30 per Equity Share. The total consideration aggregated under this Open Offer stands at ₹7,68,86,160/-.

The open offer follows a scheduled acquisition process initiated by the Acquirer through a Share Purchase Agreement (SPA) executed on June 11, 2026, with George Albert Donald Duke, Avik George Duke, and Komal Duke. These sellers collectively hold 69,59,800 Equity Shares representing 70.61% of the Target Company's voting share capital.

The offer provides an opportunity for public shareholders to participate in acquiring equity in the Target Company at this price point.

Key Terms and Timeline of the Open Offer​

The open offer was initiated in compliance with requirements pertaining to the substantial acquisition of shares and takeovers. The process includes specific deadlines for key activities such as the Identified Date, the commencement of tendering, and the completion of payment consideration.

Financial Commitment and Corporate Standing​

The Acquirer has secured adequate financial arrangements to meet the obligations under the Open Offer. As certified by statutory auditors:


The entire consideration for the Open Offer, estimated at ₹7,68,86,160/-, has been deposited into an escrow cash account with ICICI Bank Limited to ensure payment to public shareholders.

Shareholding Structure and Market Details​

Duke Offshore Ltd is listed on BSE (Scrip Code: 531471). The company operates in marine services and offshore engineering services, possessing over three decades of experience in its sector.

As per the latest reported data as of the date of the Draft Letter of Offer, the capital structure of Duke Offshore Limited stands as follows:


The Market lot for the Equity Shares of Duke Offshore Ltd is one (One).

Offer Procedures and Eligibility​

The offer is open to all public shareholders, whether registered or unregistered, who hold equity shares in the Target Company as of the Identified Date, which is set for July 21, 2026.

Key procedural aspects include:

• Tendering Period: The tendering period is scheduled from August 04, 2026, to August 17, 2026.
• Eligibility: Shareholders must ensure that the Equity Shares tendered are free from any liens, charges, or encumbrances.
• Acceptance: Acceptance of shares will be determined by consultation with the Manager to the Open Offer, and if demand exceeds the Offer Size, acceptance will be on a proportionate basis.

The Acquirer also confirmed that they do not intend to make material changes to the existing employee structure and are committed to maintaining the current workforce.

Stock Price Movement​

Duke Offshore Ltd settled at ₹23.47 on Thursday, as shares ticked up two percent, gaining ₹0.46 against the close. The stock's movement was completely flat, with the intraday high and low remaining identically locked at this price point.