Sundae Capital Advisors Private Limited has provided an update regarding the open offer by Marwadi Chandarana Intermediaries Brokers Private Limited for Trucap Finance Limited. This follows the termination of a Share Purchase Agreement and a Securities Subscription Agreement by the Acquirer. The Acquirer had requested SEBI to withdraw the open offer, but SEBI did not accede to this request and issued observations on the Draft Letter of Offer on January 30, 2026. Consequently, the Acquirer has filed an appeal with the Securities Appellate Tribunal (SAT), with a hearing scheduled for February 11, 2026. As of the date of this intimation, no stay has been granted on the offer proceedings. Any changes to the offer process or schedule due to SAT's orders will be disclosed appropriately. Shareholders can contact the Registrar or Manager to the Offer for clarifications.
