BSECompany Update7 Sept 2026 · 7 Sept 2026, 09:52 pm
Beeline Capital Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of the eligible shareholders of ECS Biztech Ltd ("Target Company").
ECS Biztech Ltd · 540063
✦ AI SummaryFundraise
ECS Biztech Ltd has received a Letter of Offer from Beeline Capital Advisors Pvt Ltd for the acquisition of up to 53,44,313 equity shares, representing 26.00% of the total paid-up / voting share capital, at an offer price of Rs. 10.50 per share.
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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk3/10
Balance Sheet Risk4/10
Liquidity Impact6/10
Market Sentiment5/10
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Full Announcement
ECS Biztech Ltd - 540063 - Letter of Offer
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LETTER OF OFFER
THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION
This Letter of Offer is sent to you as a Shareholder(s) of ECS Biztech Limited. If you require any clarifications about the action to be taken,
you may consult your stock broker or investment consultant or Manager to the Offer or Registrar to the Offer. In case you have recently sold
your shares in ECS Biztech Limited, please hand over this Letter of Offer and the accompanying Form of Acceptance cum acknowledgement
and Transfer Deed to the member of the Stock Exchange through whom the said sale was affected.
OPEN OFFER (“OFFER”)
Mr. Rakesh Ramanlal Shah (“ACQUIRER-1”)
Address: E-37, Ayojannagar Society, Near Shreyas Crossing, Paldi, Ahmedabad-380007
Tel. No.: 079-26554100 | Email: corporatefilling2016@gmail.com;
Komal Infotech Private Limited (“ACQUIRER-2”)
Registered Address: 40, Asia House, Nr Swastikchar Rasta, Navrangpura, Ahmedabad- 380009
Tel. No.: 079-26575757 | Email: srkpahmedabad@gmail.com;
(Both the above acquirers are collectively referred to as the ‘Acquirers’)
to the Equity Shareholders of
ECS BIZTECH LIMITED (“EBL” / “TARGET COMPANY”)
Corporate Identification Number (CIN): L30007GJ2010PLC063070
Registered Office: B-02, The First, ECS Corporate House, behind keshvbaug Party Plot, Off 132 Ft. Road, Vastrapur, Ahmedabad- 380015
Contact No.: +91 8980005048 | Email Id: secretarial@ecscorporation.com | Website: www.ecscorporation.com
For the acquisition of upto 53,44,313 (Fifty-Three Lakhs Forty-Four Thousand Three Hundred and Thirteen) Fully Paid-Up Equity Shares of
the face value of Rs. 10/- each (“Equity Shares”), representing 26.00% of the total paid-up / voting Share Capital of the Target Company, at an
offer price of Rs. 10.50/- (Rupees Ten and Paise Fifty Only) per fully paid-up Equity Share (the “Offer Price”) payable in Cash, pursuant to the
Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 as amended from time to time
(“SEBI (SAST) Regulations”).
PLEASE NOTE:
1) This Offer is being made by the Acquirers pursuant to Regulations 3(1) & 4 of SEBI (SAST) Regulations for substantial acquisition of
Equity Shares / voting rights accompanied with control over the management and affairs of the Target Company.
2) The Offer is not conditional upon any minimum level of acceptance in terms of Regulation 19(1) of SEBI (SAST) Regulations.
3) This Offer is not a Competing Offer as per Regulation 20 of the SEBI (SAST) Regulations.
4) There is no competing offer to this Open Offer.
5) As on the date of this LOO, there are no statutory and other approvals required for this Open Offer. However, this Open Offer is subject
to all other statutory approvals that may become applicable at a later date before the completion of the Open Offer as described in paragraph
7.4.
6) Upward revision, if any, in the Offer Price and / or Offer Size by the Acquirers at any time prior to the commencement of the last one
working day before the commencement of the tendering period i.e. up to Wednesday, September 16, 2026 or in the case of withdrawal of
offer, the same would be informed by way of an Announcement in the same newspapers in which the original Detailed Public Statement
in relation to this Open Offer was published. Such revision in the Offer Price would be payable for all the equity shares validly tendered
anytime during the tendering period and accepted under the Open Offer.
7) The Shareholders who tender equity shares in acceptance of the Open Offer in terms of the Public Announcement / Detailed Public
Statement / Letter of Offer, shall not be entitled to withdraw such acceptance during the Tendering Period.
8) A copy of Public Announcement, Detailed Public Statement, Draft Letter of Offer and Letter of Offer (including Form of Acceptance cum
Acknowledgement) is also available on SEBI’s website: www.sebi.gov.in.
All future correspondence, if any, should be addressed to the Manager to the Offer/ Registrar to the Offer at the address mentioned below:
MANAGER TO THE OFFER REGISTRAR TO THE OFFER
Beeline Capital Advisors Private Limited
Registered Office: B/1311-1314, Shilp Corporate Park, Near Rajpath Purva Sharegistry (India) Private Limited
Club, Rajpath Rangoli Road, Sarkhej - Gandhinagar Hwy, CIN No: U67120MH1993PTC074079
Ahmedabad-380054 SEBI Registration No: INR000001112
Tel. No.: 079 – 49185784 Registered Office: Unit No. 9, Ground Floor, Shiv Shakti Industrial
Email: mb@beelinemb.com Estate, J. R. Boricha Marg, Lower Parel (E), Mumbai - 400011
Investor Grievance E-mail: ig@beelinemb.com Contact Person: Ms. Deepali Gaonkar
Website: www.beelinemb.com Tel No.: +91-22-4961 4132
Contact Person: Mr. Nikhil Shah Email Id: support@purvashare.com
SEBI Registration No.: INM000012917 Website: www.purvashare.com
OFFER OPENS ON: THURSDAY, SEPTEMBER 17, 2026 OFFER CLOSES ON: WEDNESDAY, SEPTEMBER 30, 2026
SCHEDULE OF MAJOR ACTIVITIES
Major Activities Original Revised
Day and Dates Day and Dates
Public Announcement Wednesday, July 29, 2026 Wednesday, July 29, 2026
Publication of Detailed Public Statement Wednesday, August 05, 2026 Wednesday, August 05, 2026
Last Date of Filing of Draft Letter of Offer with SEBI Wednesday, August 12, 2026 Wednesday, August 12, 2026
Last Date for a Competing Offer Thursday, August 27, 2026 Thursday, August 27, 2026
Receipt of Comments from SEBI on Draft Letter of Offer Thursday, September 03, 2026 Monday, August 31, 2026
Identified Date* Wednesday, September 02,
Monday, September 07, 2026
2026
Date by which Letter of Offer will be dispatched to the Wednesday, September 09,
Tuesday, September 15, 2026
Shareholder 2026
Last date by which a Committee of Independent Directors of
the Target Company shall provide its recommendations on Friday, September 18, 2026 Tuesday, September 15, 2026
the Open Offer
Last Day of Revision of Offer Price / Share Wednesday, September 16,
Monday, September 21, 2026
2026
Date of Publication of Offer Opening Public Announcement Wednesday, September 16,
Monday, September 21, 2026
2026
Date of Opening of the Offer Thursday, September 17,
Tuesday, September 22, 2026
2026
Date of Closing of the Offer Wednesday, September 30,
Tuesday, October 06, 2026
2026
Date of communicating the rejection / acceptance and
Wednesday, October 21, 2026 Thursday, October 15, 2026
payment of consideration for the acquired share
* Identified Date is only for the purpose of determining the names of the Shareholders as on such date to whom the Letter of Offer
would be sent. All owner (registered or unregistered) of equity shares of the Target Company (except the parties to the SPA, any
person acting in concert or deemed to be acting in concert with the such parties) are eligible to participate in the offer any time
before the closure of the Offer.
RISK FACTORS
Given below are the risks related to the transaction, proposed Offer and those associated with the Acquirers:
1) Relating to transaction
a) The Offer is subject to the compliance of terms and conditions as mentioned under Share Purchase Agreement (“SPA”) dated July
29, 2026. In terms of Regulation 23(1) of the SEBI Takeover Regulations if such conditions are not satisfactorily complied with,
the Offer would stand withdrawn.
2) Relating to the Offer
a) No statutory and other approvals apart from those mentioned in paragraph 7.4 of this Letter of Offer, are required by the Acquirers
to complete this Offer. If any other statutory approvals are required or become applicable at a later date before the completion of
the Open Offer, the Open Offer would be subject to the receipt of such other statutory approvals also. The Acquirers will not
proceed with the Open Offer in the event such statutory approvals are refused in terms of Regulation 23 of the SEBI (SAST)
Regulations. This Open Offer is subject to all other statutory approvals that may become applicable at a later date before the
completion of the Open Offer. While the Acquirers shall make the nec
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