Technojet Consultants open offer at ₹48: Key 2026 dates

What has been announced

Technojet Consultants Limited shareholders have been offered ₹48 per share in a mandatory open offer by acquirer Nimesh Sahadeo Singh. The open offer is aimed at public shareholders and seeks to acquire up to 1,82,000 fully paid-up equity shares. This represents 26.00% of the company’s emerging equity and voting share capital, as stated in the disclosures.

The offer has been triggered by a combination of transactions: a Share Purchase Agreement (SPA) with the existing promoter group and a proposed preferential allotment approved by the company’s board. If these steps are completed and the open offer is fully accepted, the acquirer is expected to become the promoter and take control of the company.

The trigger: Share Purchase Agreement signed on September 18, 2026

The core trigger is the SPA executed on September 18, 2026. Under this agreement, Nimesh Sahadeo Singh agreed to purchase 1,46,293 equity shares from existing promoters and promoter group entities. The sellers mentioned include Ness Nusli Wadia and Nowrosjee Wadia and Sons Limited.

The disclosed cash consideration for the SPA is ₹70.22 lakh (₹70,22,064). The stake being transferred under the SPA has been described as 73.15% of the company’s total paid-up equity capital in the information provided.

Technojet Consultants has also disclosed that it was not a party to the SPA, although a copy of the agreement was received by the company on September 18, 2026.

Preferential issue: 5,00,000 shares at ₹48

Alongside the SPA, the company’s board approved a preferential issue of up to 5,00,000 equity shares at ₹48 per share. Of these, 3,25,000 shares are allocated to the acquirer and 1,75,000 shares are allocated to public investors, as per the details shared.

The preferential issue, at the stated price, implies proceeds of about ₹240 lakh (about ₹2.4 crore) and an expansion of the equity base. The disclosures indicate the equity base would expand from 2,00,000 shares to 7,00,000 shares.

The preferential issue is also linked to shareholder approval, with an Extraordinary General Meeting (EGM) scheduled for October 30, 2026, as referenced in the provided information.

Open offer size, price, and cash outlay

The open offer is for up to 1,82,000 shares at ₹48 per share, payable in cash. If fully accepted, the maximum consideration payable would be ₹87.36 lakh (₹87,36,000).

The offer is described as neither conditional upon any minimum level of acceptance nor a competing offer. Separately, the offer price of ₹48 is stated to be justified under Regulation 8(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations.

Navigant Corporate Advisors Limited has been appointed as the Manager to the Offer.

How the shareholding could change

The transaction is expected to result in a change of control, with Singh becoming the promoter. The disclosures also state that the existing promoter group will cease to be classified as promoters.

The shareholding outcomes described in the provided text include:

• Post-transaction, Singh is expected to hold 4,72,043 shares, constituting 67.43% of the emerging equity and voting share capital.
• Upon completion of the SPA, the preferential allotment, and full acceptance of the open offer, Singh will hold 6,53,293 equity shares, constituting 93.33% of the emerging capital.

These figures highlight that the open offer is part of a broader control transaction, rather than a standalone market purchase.

Key dates investors should track

The offer process includes a set of formal milestones disclosed in the tendering schedule. The Draft Letter of Offer was submitted to SEBI on September 29, 2026.

Deal snapshot: SPA, preferential issue, and open offer

The transaction structure combines three elements that together reshape ownership and control.

What this means for public shareholders

For public shareholders, the key practical consideration is whether to tender shares in the open offer at ₹48 per share during the specified offer period. Since the offer is not conditional on a minimum acceptance level, the tendering decision is primarily about price, liquidity, and individual portfolio considerations.

The disclosures also indicate that, if the open offer is fully accepted and the other transactions are completed, the acquirer’s holding could rise to 93.33% of the emerging capital. That would significantly reduce the non-acquirer shareholding, changing the trading dynamics for the stock due to a much smaller free float.

Company context: what Technojet Consultants does

Technojet Consultants Limited is described as being engaged in the business of providing technical know-how or rendering services in connection with the provision of technical know-how. The company also provides services in areas such as accountancy and secretarial work, according to the information provided.

The disclosures also reference that an AGM was scheduled for June 19, 2026 at Neville House, Mumbai.

Market impact and why the structure matters

The immediate market relevance of this event is the formal change-of-control pathway under SEBI’s takeover regulations. The SPA shifts a large promoter stake to the acquirer, while the preferential issue increases the equity base and allocates additional shares to the acquirer at the same ₹48 price used for the open offer.

The combination of the SPA, the preferential issue, and the open offer sets out a clear route to promoter status for the acquirer, while also providing a regulated exit option for public shareholders at a disclosed price. The open offer size, at 26.00% of emerging capital, is positioned as the mandatory component tied to the acquisition and allotment structure described.

Closing summary

Technojet Consultants’ open offer at ₹48 per share follows the September 18, 2026 SPA for a 73.15% promoter stake and a proposed preferential allotment at the same price. With the Draft Letter of Offer submitted to SEBI on September 29, 2026, investors will be tracking the November 9 to November 23, 2026 tendering window and the December 8, 2026 payment date, alongside the shareholder process linked to the preferential issue.