Switching Technologies Gunther Open Offer Concludes; Acquirers Achieve 58.27% Stake Post Offer

Switching Technologies Gunther Ltd received a disclosure dated May 15, 2026, filed with BSE Limited under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted by M/s. Touristas Horizons (P) Ltd and M/s. BBU Enterprises (P) Ltd, both identified as promoter/promoter group entities, informing the exchange of a substantial acquisition of equity shares in the target company. Subsequently, D & A Financial Services (P) Limited, acting as Manager to the Offer, filed a Post Offer Advertisement on May 16, 2026, in compliance with Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, on behalf of the acquirers — M/s BBU Enterprises Private Limited, M/s Touristas Horizons Private Limited, and Mr. Nikhil Pujari.

Acquisition Details

The acquirers, acting in concert, collectively acquired 5,05,722 equity shares of Switching Technologies Gunther Ltd on May 14, 2026. The shares were acquired pursuant to an open offer made under Regulation 3(1) and Regulation 4 of the SEBI (SAST) Regulations, 2011, through shares tendered by public shareholders. Each of the two corporate acquirers — Touristas Horizons (P) Ltd and BBU Enterprises (P) Ltd — acquired 2,52,861 equity shares individually, together accounting for 20.64% of the total share and voting capital of the target company.

The following table summarises the shareholding position of the acquirers before and after the acquisition:

Parameter: Touristas Horizons (P) Ltd BBU Enterprises (P) Ltd Combined Shares held before acquisition: 0 0 0 % before acquisition: 0.00% 0.00% 0.00% Shares acquired: 2,52,861 2,52,861 5,05,722 % acquired: 10.32% 10.32% 20.64% Shares held after acquisition: 2,52,861 2,52,861 5,05,722 % after acquisition: 10.32% 10.32% 20.64%

Post Offer Advertisement — Key Offer Details

The Detailed Public Statement (DPS) for the open offer was published on Monday, February 02, 2026, across multiple newspaper editions. The offer opened on Thursday, April 16, 2026, and closed on Wednesday, April 29, 2026, with the last date of payment of consideration being Thursday, May 14, 2026. The post-offer advertisement was published on May 16, 2026, in all editions of Financial Express (English), Jansatta (Hindi), Chennai edition of Makkal Prathinithi (Tamil), and Mumbai edition of Mumbai Lakshadweep (Marathi).

The following table presents a comparison of the proposed and actual offer outcomes:

Item: Proposed (No. of Shares) Proposed (%) Actual (No. of Shares) Actual (%) Offer Price: Rs. 66.00 — Rs. 66.00 — Aggregate Shares Tendered: 6,37,000 — 5,05,722 — Aggregate Shares Accepted: 6,37,000 — 5,05,722 — Size of the Offer: Rs. 4,20,42,000 — Rs. 3,33,77,652 — Shares Acquired via Agreement: 9,22,000* 37.63% 9,22,000* 37.63% Shares Acquired via Open Offer: 6,37,000 26.00% 5,05,722 20.64% Shares Acquired after DPS: Nil N.A. Nil N.A. Post Offer Shareholding (Acquirers & PAGs): 15,59,000 63.63% 14,27,722 58.27% Pre Offer Public Shareholding: 15,28,000 62.37% 15,28,000 62.37% Post Offer Public Shareholding: 8,91,000 36.37% 10,22,278 41.73%

Note: *The equity shares to be acquired in terms of the Share Purchase Agreement have not yet been transferred in the name of the Acquirers.

Capital Structure of the Target Company

The equity share capital of Switching Technologies Gunther Ltd remains unchanged both before and after the acquisition. The following table outlines the capital structure:

Parameter: Details Total Equity Share Capital: INR 2,45,00,000 Total Number of Equity Shares: 24,50,000 Face Value per Share: INR 10.00 Stock Exchange Listed: BSE Limited Date of Acquisition: May 14, 2026 Date of Disclosure: May 15, 2026

Acquirer Details

The disclosure was signed by Simran Agarwal, Director of Touristas Horizons (P) Ltd, on behalf of both corporate acquirers, from Kolkata on May 15, 2026. Key details of the acquirers are as follows:

Acquirer: CIN PAN Promoter Group M/s. Touristas Horizons (P) Ltd: U79110WB2023PTC264828 AAKCT4053B Yes M/s. BBU Enterprises (P) Ltd: U51909WB2022PTC254100 AAKCB7725Q Yes

The mode of acquisition was through the open offer process, with shares tendered by public shareholders of the target company. Prior to this transaction, neither corporate acquirer held any equity shares, voting rights, warrants, convertible securities, or any other instruments entitling them to shares carrying voting rights in Switching Technologies Gunther Ltd. The third acquirer, Mr. Nikhil Pujari, is a citizen of India residing in Rajasthan.

Regulatory Compliance

The original disclosure was filed by the Company Secretary and Compliance Officer, S. Ramesh, with the Corporate Relationship Department of BSE Limited via the BSE Listing Centre Online portal, bearing reference number BSE/SEC/203/2026, in compliance with Regulation 29(1) of the SEBI (SAST) Regulations, 2011. The Post Offer Advertisement was issued by D & A Financial Services (P) Limited, Manager to the Offer, from New Delhi on May 16, 2026, and is also available on the SEBI website. The acquirers have accepted full responsibility for the information contained in the Post Offer Advertisement and are jointly and severally responsible for the fulfilment of obligations under the offer as laid down in the SEBI (SAST) Regulations, 2011.

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