Dr. Farukbhai Patel launches Open Offer for Accord Synergy Limited Shares at ₹42.35 per Share

Dr. Farukbhai Patel launches Open Offer for Accord Synergy Limited Shares at ₹42.35 per Share​

Mumbai: An open offer has been launched by Dr. Farukbhai Gulambhai Patel, along with Mr. Muinulhaque Iqbalhusen Kadva (Person Acting in Concert), to acquire a substantial stake in Accord Synergy Limited (Target Company). The offer is available to public shareholders at an offer price of ₹42.35 per share.

The offer aims to acquire up to 9,72,500 fully paid-up Equity Shares (Offer Shares) of the Target Company, representing 25.12% of the Emerging Voting Equity Share Capital. The maximum total consideration for the acquisition is calculated at ₹4,11,85,375/- (Rupees Four Crore Eleven Lakh Eighty-Five Thousand Three Hundred Seventy-Five Only), payable in cash by Dr. Farukbhai Gulambhai Patel and Mr. Muinulhaque Iqbalhusen Kadva.

The Open Offer was initiated following an Underlying Transaction, which included the acquisition of 13,88,800 Equity Shares from Promoter Sellers, Mr. Betulla A. Khan and Mrs. Roli B. Khan. The preferential allotment of 4,00,000 shares to the Acquirer also forms part of this underlying transaction.

Offer Snapshot​

The key details of the offer are summarized below:


The primary objective of the acquisition is to secure joint management control over Accord Synergy Limited with the existing promoters, enabling the Acquirer and PAC to become part of the Promoter Group.

Financial and Operational Details​

Regarding financial arrangements, the Acquirer confirmed having adequate resources for financing the acquisition. The offer has been secured by an Escrow Agreement dated May 06, 2026, entered into with Kotak Mahindra Bank Limited, where a deposit of ₹4,12,00,000/- was made in cash into the designated Escrow Account.

The Acquirer and PAC commit to continuing the existing business operations and line of business of Accord Synergy Limited upon the completion of both the Open Offer and the preferential issue.

Tendering Period and Schedule of Activities​

The tendering period for the open offer is set from June 24, 2026, to July 08, 2026.

A summary of key activities related to the offer is provided in the table below:


The Acquirer and PAC have appointed Rarever Financial Advisors Private Limited as the Manager to the Offer. The offer is being managed in compliance with relevant regulations concerning substantial acquisition of shares and takeovers.

ACCORD Stock Price Movement​

Accord Synergy Limited shares edged higher today, closing at ₹99.60 after gaining 4.95%. The stock achieved a significant milestone by hitting its 52-week high, registering trades of 6,000 shares during the session.