Brijlaxmi Leasing & Finance Limited has received revised final comments from SEBI on March 24, 2026, regarding its open offer by four acquirers to purchase up to 64,99,889 equity shares at ₹10.05 per share, aggregating ₹6,53,23,884.45. The process now awaits RBI approval before the Letter of Offer can be dispatched to eligible shareholders within seven working days.

Brijlaxmi Leasing and Finance Limited Open Offer Update - SEBI Observation Letter Received

Brijlaxmi Leasing & Finance Limited has received revised final comments from the Securities and Exchange Board of India (SEBI) on the Draft Letter of Offer for a proposed open offer. The regulatory milestone, achieved on March 24, 2026, marks a significant step forward in the acquisition process initiated by four acquirers.

Open Offer Details

The open offer involves four acquirers working collectively to acquire equity shares in the target company. The key parameters of the offer are structured as follows:

Parameter: Details Target Shares: Up to 64,99,889 equity shares Share Value: ₹10.00 each Offer Price: ₹10.05 per share Total Value: ₹6,53,23,884.45 Payment Method: Cash

Acquirer Information

The acquisition is being undertaken by a consortium of four entities:

Acquirer 1: Jaykishor Chaitanyakishor Chaturvedi

Acquirer 2: Siddharth Jaykishor Chaturvedi

Acquirer 3: Ankur J Chaturvedi

Acquirer 4: Brijlaxmi Infotech Limited

The open offer is being conducted in compliance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended.

Regulatory Timeline and Next Steps

The Draft Letter of Offer was initially submitted to SEBI on December 19, 2025, in accordance with Regulation 16(1) of the SEBI (SAST) Regulations. SEBI's revised final comments, provided through its observation letter dated March 24, 2026, will be incorporated into the Letter of Offer to be sent to eligible shareholders.

Timeline Component: Duration LOF Dispatch: Within 7 working days from RBI approval Tendering Period Start: Not later than 12 working days from RBI approval Payment to Shareholders: Within 10 working days from tendering period end Interest on Delayed Payment: 10% per annum

Pending Approvals

The process now awaits approval from the Reserve Bank of India (RBI) before proceeding to the next phase. Once RBI approval is received, the Letter of Offer will be dispatched to eligible shareholders within seven working days. The tendering period for the open offer will commence not later than 12 working days from the date of RBI approval receipt.

Payment to successful public shareholders who tender their equity shares will be made within 10 working days from the last date of the tendering period. Any delays in payment will attract interest at 10% per annum. The communication was filed by Saffron Capital Advisors Private Limited, acting as the intermediary for the transaction.

Brijlaxmi leasing & finance has announced a significant revision to its ongoing open offer through a corrigendum published on February 27, 2026. The company has increased the offer size substantially, providing shareholders with enhanced participation opportunities in the acquisition process.

Revised Offer Parameters

The open offer has undergone major modifications in terms of size and total consideration. The acquirers - Jaykishor Chaitanyakishor Chaturvedi, Siddharth Jaykishor Chaturvedi, Ankur J Chaturvedi, and Brijlaxmi Infotech Limited - have revised their acquisition plans significantly.

Parameter Original Offer Revised Offer Offer Size 48,74,650 shares 64,99,889 shares Face Value ₹10.00 per share ₹10.00 per share Offer Price ₹10.05 per share ₹10.05 per share Total Consideration Not specified ₹6,53,23,884.45 Voting Share Capital 26% 26%

Regulatory Compliance and Publication

The corrigendum was published in compliance with SEBI (SAST) Regulations, 2011, across multiple newspapers to ensure wide dissemination. Saffron Capital Advisors Private Limited, serving as the Manager to the Offer, coordinated the publication process.

Publication Details Information Publication Date February 27, 2026 Corrigendum Date February 26, 2026 English Newspaper Financial Express (All Editions) Hindi Newspaper Jansatta (All Editions) Marathi Newspaper Navshakti (Mumbai Edition) Gujarati Newspaper Ahmedabad Express (Baroda Edition)

Key Stakeholders and Contact Information

The open offer involves multiple parties working in coordination to ensure smooth execution. Saffron Capital Advisors Private Limited continues as the Manager to the Offer, while Cameo Corporate Services Limited serves as the Registrar.

Manager Contact Details:

Satej Darde (Senior Manager)

Email: satej@saffronadvisor.com

Sachin Prajapati (Senior Manager)

Phone: +91-22-49730394

Email: sachin@saffronadvisor.com

Offer Structure and Timeline

The revised offer represents 26% of the emerging voting share capital of the Target Company on a fully diluted basis, calculated as of the 10th working day from the closure of the tendering period. The increase in offer size from 48.74 lakh shares to 64.99 lakh shares demonstrates the acquirers' enhanced commitment to the acquisition.

The corrigendum clarifies that all other terms and conditions of the open offer remain unchanged except for the specific revisions mentioned. Shareholders can access the complete documentation on SEBI's website at www.sebi.gov.in and the Manager's website at www.saffronadvisors.com for detailed information about the acquisition process.

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