Promoters of Duke Offshore Ltd Sell 70.61% Stake to Aspect Global Ventures Private Limited
Duke Offshore Ltd announced a major share sale as promoters, Mr. Albert Donald Duke, Mr. Avik George Duke, and Ms. Komal Duke, executed a Share Purchase Agreement (SPA) with Aspect Global Ventures Private Limited on June 11, 2026. The transaction involves the sale of a significant portion of the company's shares to the acquiring entity.The Sellers agreed to sell an aggregate of 69,59,800 fully paid-up equity shares of Duke Offshore Ltd to Aspect Global Ventures Private Limited. This sale represents 70.61% of the existing voting share capital of the company. The Proposed Transaction is priced at Rs. 30 per equity share.
The Share Purchase Agreement (SPA) outlines the terms and conditions for the transfer of control, which will occur upon the Closing Date. The Acquirer is required to conduct an Open Offer to public shareholders in compliance with applicable regulations.
Key details of the transaction are summarized below:
| Detail | Specification |
|---|---|
| Sellers | Mr. Albert Donald Duke, Mr. Avik George Duke, and Ms. Komal Duke (Promoters) |
| Acquirer | Aspect Global Ventures Private Limited |
| Date of Agreement | June 11, 2026 |
| Shares Sold | 69,59,800 shares |
| Percentage of Capital | 70.61% of existing voting share capital |
| Purchase Price per Share | Rs. 30 (Rupees Thirty Only) |
The terms specified under the agreement dictate that the Sellers will transfer their shares from Demat accounts to the Acquirer upon closing. Furthermore, the transaction includes corporate actions such as convening a Board meeting of Duke Offshore Ltd to approve the Acquirer's name in the register of members and ensuring the removal of existing authorized signatories of the company's bank accounts.
The SPA also stipulates that upon consummation of the transactions, the Sellers will cease to exercise control over the Company. For instance, they are bound not to have any special rights, hold a representation on the Board of Directors, or act as key managerial personnel of Duke Offshore Ltd.
Stock Price Movement
Duke Offshore Ltd shares settled at ₹17.69 on Thursday, climbing 4.99%. The stock fluctuated throughout the day, finding a low of ₹16.25 and peaking at a high of ₹17.69.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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