Lenexis Foodworks and associated acquirers are set to acquire up to 20,80,61,717 equity shares of Restaurant Brands Asia for ₹70 per share, totaling approximately ₹14,56,43,20,190. This open offer allows public shareholders to tender their shares. The transaction will result in the acquirers holding a substantial stake in the company, pending regulatory approvals. Motilal Oswal Investment Advisors is managing the offer.
Open Offer Details
Lenexis Foodworks Private Limited, Aayush Agrawal Trust, Inspira Foodworks Private Limited, and Mr. Aayush Madhusudan Agrawal (collectively the “Acquirers”), along with Inspira Agro Trading LLC, have announced an open offer to acquire up to 20,80,61,717 equity shares of Restaurant Brands Asia Limited. The offer is priced at ₹70 per Equity Share in cash, potentially reaching a total consideration of up to ₹14,56,43,20,190.
Acquisition Strategy and Rationale
The Acquirers are making this offer to the public shareholders of Restaurant Brands Asia. This move is in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Management and Advisors
Motilal Oswal Investment Advisors Limited has been appointed as the Manager to the Open Offer, ensuring compliance with regulatory requirements throughout the process. Key contacts include Akash Aggarwal, Subodh Mallya, and Ronak Shah.
Transaction Overview
The Acquirers have entered into a securities subscription agreement where they will be issued subscription shares and warrants, subject to shareholder and regulatory approvals. The subscription includes 12,85,71,428 Equity Shares and warrants to acquire additional shares, influencing the company’s capital structure. Additionally, there’s an agreement to purchase shares from existing promoters, leading to a change in control.
Shareholding Dynamics
Following the transaction, the acquirers’ shareholding will undergo significant changes, solidifying their position. This includes proposed acquisition of existing shares as well as warrants which can be converted to equity.
Source: BSE
