SAR Televenture Completes Offer for Grand Foundry Shares, Acquiring 70.17% of Public Float
The acquisition of equity shares in Grand Foundry Limited (GFL) has been finalized by M/s SAR Televenture Limited following a recently concluded public offer. The transaction involved D & A Financial Services (P) Limited acting as the Manager to the Offer.SAR Televenture Limited, referred to as the Acquirer, sought to acquire GFL equity shares through this open offer. Key details regarding the acquisition and shareholding structure were provided in the post-offer announcement released on July 7, 2026.
The offer had a defined timeline, commencing with the Offer Opening Date on June 9, 2026, and closing on June 22, 2026. The last date for payment of consideration was noted as Tuesday, July 07, 2026.
Acquisition and Shareholding Details
The acquisition involved a specific offer price structure, resulting in significant changes to the public shareholding of Grand Foundry Limited. The following table details the key aspects of the offering:| Item | Offer Price | Aggregate Shares Tendered | Actual Acquired Shares |
|---|---|---|---|
| Offer Price | Rs. 2.50 | 79,11,800 | 910 |
| Size of the Offer | Rs. 1,97,79,500/- | 79,11,800 | 910 |
Impact on Shareholding
The offering resulted in a substantial acquisition by SAR Televenture Limited, altering the pre- and post-offer public shareholding of Grand Foundry Limited. The details of the shares acquired through the open offer and the resulting shareholder distribution are presented below:| Pre-Offer Public Shareholding | Post-Offer Public Shareholding |
|---|---|
| 29,263,540 shares (96.17%) | 90,77,350 shares (29.83%) |
The acquisition of the equity shares through the open offer amounted to 2,13,51,740 shares, representing 70.17% of the publicly available shares. The initial shareholding of Acquirers and PACs before the agreement was noted, with subsequent updates detailing the shares acquired by way of Open Offer.
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