Technojet Consultants Open Offer: Nimesh Sahadeo Singh to Acquire 26% Stake at Rs 48 Per Share
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Technojet Consultants Open Offer Details
Mr. Nimesh Sahadeo Singh is making a mandatory open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
The offer covers up to 1,82,000 fully paid-up equity shares of Technojet Consultants, representing 26.00% of the emerging equity and voting share capital, at an offer price of rupee 48 per share.
The offer consideration, assuming full acceptance, works out to rupee 87.36 lakh.
The offer is not conditional upon any minimum level of acceptance from shareholders.
Technojet Consultants Share Acquisition and Preferential Issue
The open offer has been triggered by two underlying transactions.
First, the acquirer has entered into an SPA dated September 18, 2026, to acquire 1,46,293 equity shares, representing 20.90% of the emerging equity and voting share capital, from six existing promoter and promoter-group entities. The shares are being acquired at rupee 48 per share, for an aggregate consideration of rupee 70.22 lakh.
Second, Technojet Consultants has proposed a preferential allotment of 3,25,000 equity shares to Mr. Nimesh Sahadeo Singh at rupee 48 per share. These shares represent 46.43% of the emerging equity and voting share capital. The company has also proposed a preferential allotment of 1,75,000 equity shares to public category investors at the same issue price.
Following the SPA acquisition and the proposed preferential allotment, the acquirer is expected to hold 4,71,293 equity shares, representing 67.33% of the emerging share capital.
Technojet Consultants Management Control and Promoter Change
The objective of the transaction is to acquire substantial equity shares and voting rights along with effective management control of Technojet Consultants.
Following completion of the underlying transactions and the open offer, the acquirer intends to exercise control over the company and be classified as its promoter, subject to applicable laws. The existing promoter and promoter group are proposed to cease to be classified as promoters and may be reclassified as public shareholders, subject to the applicable regulatory requirements.
The acquirer has stated that the existing line of business may be continued and/or the company may diversify into other areas, subject to applicable laws and shareholder approvals wherever required. However, the Draft Letter of Offer states that no firm decision in this regard had been taken as of the filing date.
Technojet Consultants Open Offer Schedule
The Draft Letter of Offer states that the open offer is scheduled to open on November 9, 2026, and close on November 23, 2026.
The identified date is October 26, 2026, while the Letter of Offer is scheduled to be dispatched to shareholders by November 2, 2026. Payment of consideration for accepted shares is scheduled for December 8, 2026.
Technojet Consultants Open Offer Highlights
- Target Company: Technojet Consultants Limited
- Acquirer: Mr. Nimesh Sahadeo Singh
- Open Offer Size: Up to 1,82,000 equity shares
- Offer Stake: 26.00% of emerging equity and voting share capital
- Offer Price: rupee 48 per equity share
- Offer Consideration: rupee 87.36 lakh, assuming full acceptance
- SPA Shares: 1,46,293 equity shares
- SPA Stake: 20.90%
- SPA Price: rupee 48 per share
- SPA Consideration: rupee 70.22 lakh
- Preferential Shares to Acquirer: 3,25,000 equity shares
- Preferential Stake: 46.43%
- Post-SPA & Preferential Shareholding: 4,71,293 shares / 67.33%
- Escrow Amount: rupee 90 lakh
- Offer Opens: November 9, 2026
- Offer Closes: November 23, 2026
- Proposed Control: Effective management control
- Proposed New Promoter: Mr. Nimesh Sahadeo Singh
What to Watch Next
- Investors can watch the November 9–23, 2026, tendering period, during which eligible shareholders can participate in the open offer.
- Subsequent disclosures may provide updates on the 1,46,293-share SPA acquisition and the proposed 3,25,000-share preferential allotment to the acquirer.
- Investors can monitor subsequent company disclosures for the proposed transition of Mr. Nimesh Sahadeo Singh as promoter and the change in management control following completion of the transactions.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
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