Aspect Global Ventures Launches Open Offer for Duke Offshore Ltd Shares

Aspect Global Ventures Launches Open Offer for Duke Offshore Ltd Shares​

Aspect Global Ventures Private Limited has initiated an Open Offer to acquire a minority stake in Duke Offshore Limited, reporting a price of ₹30 per share for up to 2,562,872 equity shares. This offer is tied to the acquisition of a substantial block of shares by the Acquirer from certain selling shareholders.

The Public Announcement outlines that Aspect Global Ventures will acquire these shares, representing 26% of the Voting Share Capital of Duke Offshore Limited (Target Company). The Offer Price is fixed at ₹30 per Equity Share, and based on full acceptance, the total consideration payable by the Acquirer for this portion of the Open Offer stands at ₹7,68,86,160. Payment for the shares offered will be made in cash.

Transaction Details Triggering the Acquisition​

The Open Offer is a triggered offer resulting from the execution of a Share Purchase Agreement (SPA) dated June 11, 2026, between Aspect Global Ventures and the Sellers. Under this SPA, the Acquirer has agreed to acquire 69,59,800 equity shares, constituting 70.61% of the Target Company's Voting Share Capital.

The details of the underlying transaction are as follows:

Selling Shareholders and Acquirer Details​

The transaction is being executed by the sellers, who collectively hold 70.61% of the shares in Duke Offshore Limited. The selling shareholders include George Albert Donald Duke (50,52,200 shares / 51.25%), Avik George Duke (5,63,270 shares / 5.71%), and Komal Duke (13,44,330 shares / 13.64%).

Aspect Global Ventures Private Limited, the Acquirer, is associated with multiple trusts, including Harmony Trust, Dream Trust, and Mahadev Private Trust. Prior to the acquisition detailed in the SPA, Aspect Global had no equity shareholding in the Target Company. Following the purchase of the shares outlined in the SPA (excluding the Open Offer), their proposed holding stands at 69,59,800 equity shares or 70.61% of the Voting Share Capital.

Target Company and Future Commitments​

Duke Offshore Limited is a company listed on BSE Limited under Scrip Code: 531471. As part of the commitment surrounding this transaction, the Acquirer has assured that if public shareholding falls below the minimum required level after completing the Open Offer and the underlying transaction, they will undertake steps to bring down the non-public shareholding to 75%.

The details concerning the Open Offer are set to be published in a Detailed Public Statement (DPS) within five working days of this announcement, on or before Thursday, June 18, 2026. The Acquirer also stated that there is no intention to delist the Equity Shares pursuant to this Open Offer.

Stock Price Movement​

Duke Offshore Ltd shares closed at ₹17.69, edging higher for the day, after trading between a low of ₹16.25 and a high of ₹17.69.