Craftroot Retail Completes Open Offer, Acquiring Over 10 Lakh Shares of Former Nirbhay Colours India Ltd
Craftroot Retail Limited, formerly known as Nirbhay Colours India Limited, has completed the open offer aimed at acquiring a substantial stake in its former entity, providing clarity on the transaction's execution and market reception.The open offer sought to acquire 14,19,700 fully paid-up equity shares of Nirbhay Colours India Limited (the 'Target Company') from public shareholders. The offer was made by a consortium including Mr. Dakshesh Rameshchandra Shah, Mr. Dhruvin Shah, Mrs. Sheetal Shah, Mrs. Anar Jayeshbhai Patel, Ms. Sanskruti Jayeshbhai Patel, Mr. Jayesh Patel, and M/s. Seher Retail Private Limited (collectively the 'Acquirers').
The offer price for all shares was set at Rs. 10/- per share, with the total offered size valued at Rs. 1,41,97,000/-.
Tender Period and Investor Response
The tendering period commenced on Thursday, February 26, 2026, and expired on Thursday, March 12, 2026. The response from the public shareholders indicated a significant interest level in the offer.Key figures regarding the investor response are detailed below:
| Metric | Number of Shares | Percentage (%) |
|---|---|---|
| Total shares proposed to be acquired | 14,19,700 | 42.36% |
| Total shares tendered | 11,15,800 | 78.59% |
| Shares accepted | 10,15,800 | 71.55% |
| Shares rejected | 1,00,000 | - |
Market Price Details During Offer Period
The market prices of the Target Company's shares were tracked throughout the offer period. The following table outlines the stock price movements against the open offer timeline:| Particulars | Date | Rs. per share |
|---|---|---|
| 1 trading day prior to PA date | 08.02.2026 | 1.00 |
| On the date of Public Announcement (PA) | 09.02.2026 | 1.00 |
| On the date of commencement of tendering period | 26.02.2026 | 1.00 |
| On the date of expiry of the tendering period | 12.03.2026 | 1.00 |
| Average market price during the tendering period | 26.02.2026 to 12.03.2026 | [1.00] |
Post-Offer Shareholding Status
The acquisition process has resulted in a significant increase in the Acquirers' holding of Nirbhay Colours India Limited shares.Prior to the public announcement (PA), the Acquirers held 2,85,800 shares, representing 8.17% of the total share capital. Following the successful completion of the open offer, which involved acquiring 10,15,800 shares, the total post-offer shareholding stands at 19,75,901 shares, equating to 56.45% of the company's stock.
The composition of public shareholding in the Target Company has also seen a shift:
| Shareholder Category | Pre-Offer Shares (No.) | Pre-Offer % (%) | Post-Offer Shares (No.) | Post-Offer % (%) |
|---|---|---|---|---|
| Acquirers | 2,85,800 | 8.17% | 19,75,901 | 56.45% |
| Other Public Shareholders | 30,64,200 | 91.83% | 15,24,100 | 43.55% |
Consideration Payment Details
The consideration for the accepted shares was paid on March 30, 2026. The payment was processed through electronic mode to eight shareholders, amounting to Rs. 1,01,58,000/-.Stock Price Movement
Craftroot Retail Ltd settled on Wednesday at ₹1.00, concluding with zero movement in the stock price. During the day's trading, shares moved between an intraday low of ₹1.00 and a high of ₹1.05.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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