SAR Televenture Initiates Open Offer for Grand Foundry Limited with Revised Timeline and Financial Updates
D & A Financial Services (P) Limited, acting as the Manager, released a Corrigendum to the Detailed Public Statement concerning the Open Offer of Grand Foundry Limited. The offer is being made by M/s SAR Televenture Limited (the Acquirer) under applicable takeover regulations. The updated document details the revised schedule of activities, along with financial summaries for both the Acquirer and the Target Company.The notice confirms that the original schedule of activity related to the Open Offer has been revised. Key dates for the process, as detailed in the revised schedule, include:
| Activity | Original Schedule | Revised Schedule |
|---|---|---|
| Date of Public Announcement | Tuesday, 03rd March, 2026 | Tuesday, 03rd March, 2026 |
| Date of Publication of Detailed Public Statement | Tuesday 10th March, 2026 | Tuesday 10th March, 2026 |
| Filing of the Draft letter of Offer | Tuesday, 17th March, 2026 | Tuesday, 17th March, 2026 |
| Last Date for a Competitive Offer(s) | Monday, 06th April, 2026 | Monday, 06th April, 2026 |
| Identified Date | Thursday, 16th April, 2026 | Monday, 25th May, 2026 |
| Date by which Final Letter of Offer will be dispatched | Thursday, 23rd April, 2026 | Tuesday, 02nd June, 2026 |
| Last Date for revising the Offer Price / number of shares | Monday, 27th April, 2026 | Thursday, 04th June, 2026 |
| Date by which the committee of the independent directors shall give its recommendations | Tuesday, 28th April, 2026 | Friday, 05th June, 2026 |
| Date of Publication of Offer Opening Public Announcement | Wednesday, 29th April, 2026 | Monday, 08th June, 2026 |
| Date of Commencement of Tendering Period (Offer Opening date) | Thursday, 30th April, 2026 | Tuesday, 09th June, 2026 |
| Date of Expiry of Tendering Period (Offer Closing date) | Thursday, 14th May, 2026 | Monday, 22nd June, 2026 |
| Last Date of communicating rejection / acceptance and payment of consideration | Friday, 29th May, 2026 | Tuesday, 07th July, 2026 |
The identified date is specified only for the purpose of determining the public shareholders to whom the Letter of Offer would be mailed. All Public Shareholders are eligible to participate in the offer at any time prior to the closure of the tendering period.
Acquirer’s Financials and Standing
Regarding the Acquirer, M/s SAR Televenture Limited, the detailed financials confirm the following operational data. The information provided is subject to a Limited Review Report dated May 25, 2026.| Particulars | Year Ended March 31, 2023 (Audited) | Year Ended March 31, 2024 (Audited) | Year Ended March 31, 2025 (Audited) | Nine-Months Ended December 31, 2025 (Unaudited) |
|---|---|---|---|---|
| Total Income/Net Income | 3251.64 | 12417 | 35619.3 | 32578.8 |
| Profit After Tax | 388.36 | 1566.16 | 4690.09 | 5089.26 |
| Earnings Per Share (EPS) (In Rs.) | 178.87 | 16.12 | 13.85 | 10.8 |
| Networth | 1180.38 | 7180.43 | 85379.4 | 91589.7 |
Furthermore, a certificate dated May 25, 2026, confirms that the Net worth of M/s SAR Televenture Limited on a standalone basis as of December 31, 2025, is Rs. 77302.89 Lakhs and that the company has sufficient liquid funds to fulfill its part of obligations under this offer.
Target Company's Financial Overview
For the Target Company, Grand Foundry Limited (GFL), the brief financials report the following figures (Rs in Lakhs):| Particulars | Year Ended March 31, 2023 (Audited) | Year Ended March 31, 2024 (Audited) | Year Ended March 31, 2025 (Audited) | Year Ended March 31, 2026 (Audited) |
|---|---|---|---|---|
| Total Income/Net Income | 10.30 | 2.77 | 2.05 | 1,052.56 |
| Profit After Tax | (110.61) | (51.38) | (68.06) | 18.13 |
| Earnings Per Share (EPS) (In Rs.) | (0.36) | (0.17) | (0.22) | 0.06 |
| Networth | (438.91) | (495.41) | (563.47) | (545.34) |
GFSTEELS Stock Price Movement
Shares of Grand Foundry Limited are holding steady at ₹12.97 as of 12:24 PM, recording a flat 0.00% change in live trading. Notably, the stock is hitting its 52-week high at ₹12.97, supported by a total traded volume of 2,435 shares.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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