1. What is an Open Offer?

An Open Offer is a public offer made by an acquirer to the existing shareholders of a listed company to purchase shares. It is typically triggered by a substantial acquisition of shares or a change in control, as specified under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2. Why do companies make an Open Offer?

Companies make an Open Offer to provide an exit opportunity to public shareholders in cases of significant ownership or control changes. As per SEBI regulations, an Open Offer becomes mandatory under the following scenarios:

• The acquirer gains more than 25% of voting rights in a listed company.
• There is a substantial change in management or control.
• There is an indirect acquisition through another entity (such as a parent or holding company).

3. Who can participate in an Open Offer?

Any public shareholder who holds shares on or before the specified record date or cut-off date is eligible to participate.

• This applies primarily to shares held in dematerialized (demat) form.
• Shareholders holding shares in physical form may participate by following the specific procedures outlined in the Letter of Offer (LoF) issued by the acquirer.

4. How can I apply for the Open Offer through your platform?

To apply via our platform, please send an email from your registered email ID to support@navia.co.in, clearly mentioning the number of shares you wish to tender.

Pre-Application Checks:

• POA/DDPI is enabled, and your demat account is active.
• Your UCC (Unique Client Code) is authorized to trade.
• The requested quantity of shares is available and free in your demat account.
  
  

After these checks, we will apply on your behalf on the NSE or BSE platform, depending on where the Open Offer is active.

Important Guidelines:

• Do not place any sell orders for the tendered shares once you’ve submitted the Open Offer request.
• Requests received on the last day of the offer after 12:00 PM will not be accepted, due to exchange deadlines.
• Order modifications or cancellations are not permitted during the tendering period.
  
  

For Physical Shareholders:

If you are holding shares in physical form, you must personally visit the RTA (Registrar and Transfer Agent) during the tendering period with the following:

• Original physical share certificates.
• Duly filled Tender Form along with PAN card copy and other relevant KYC documents.

5. When will I receive the payment for accepted shares?

The funds for accepted shares will be:

• Credited directly to your registered bank account linked with your demat account.
• If the credit is rejected by the bank, the amount will be credited to your NAVIA trading account.
• Once credited, you can place a payout request to withdraw the funds to your bank.

6. When will unaccepted shares be returned to my demat account?

Shares that are not accepted in the Open Offer will be returned to your demat account on or before the settlement date as specified in the offer timeline.

7. Is it mandatory for shareholders to participate?

Participation in an Open Offer is entirely voluntary and not mandatory for shareholders. If a shareholder chooses not to tender their shares, there is no penalty or negative consequence—they will simply continue to hold their shares in the company.