BSECompany Update28 Aug 2026 · 28 Aug 2026, 02:40 pm

Rarever Financial Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post-Offer advertisement under Regulation 18(12) in terms of the Securities and Exchange Board ....

Dolphin Medical Services Ltd · 526504

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Dolphin Medical Services Ltd has received a post-offer advertisement from Rarever Financial Advisors Pvt Ltd regarding the open offer to acquire 26% of the company's equity shares at ₹4.80 per share.

Analysis Scores

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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Dolphin Medical Services Ltd - 526504 - Post-Offer Advertisement

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BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001, Maharashtra, India. Sub: Submission of Post-Offer Advertisement for the Open Offer of 39,25,988 Fully Paid-Up Equity Shares of the face value of ₹ 10/- Each (“Offer Shares”) Representing 26% of fully paid-up equity share capital of Dolphin Medical Services Limited (‘Target Company’) from the Public Shareholders of Target Company. Dear Sir /Madam, We, Rarever Financial Advisors Private Limited (hereafter referred to as “Manager to the Offer”), are hereby submitting the Post offer advertisement made by us on behalf of Mr. Amarandhar Reddy Kotha (Acquirer 1) and Mr. Mallour Rajesh Kumar (Acquirer 2), (Collectively referred to as The “Acquirers”) to acquire 39,25,988 Equity Shares representing 26% of total paid-up equity shares of Target Company at a price of ₹ 4.80/- per Equity Share each pursuant to and in compliance with, Regulation 4 of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto. Request you to kindly take the same on your record. Yours Faithfully, For Rarever Financial Advisors Private Limited Prasann Y. Bhatt Authorized Signatory Date: August 28, 2026 Place: Ahmedabad Enclosed: Post Offer Advertisements POST-OFFER ADVERTISEMENT UNDER REGULATION 18(12) IN TERMS OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) REGULATIONS, 2011, AS AMENDED (“SEBI (SAST) REGULATIONS”) FOR THE ATTENTION OF THE EQUITY SHAREHOLDERS OF DOLPHIN MEDICAL SERVICES LIMITED Corporate Identification Number: L24239TG1992PLC014775; Registered Office: Level 3, Plot No 13, Green Lands Colony, Gachibowli, Seri Lingampally, K.V.Rangareddy, Hyderabad, Telangana - 500032; Contact Number: 040-65889357 / 23738877; Email Address: dolphincomplianceofficer@gmail.com; Website: www.dolphinmedicalservices.com This Post Offer Advertisement is being issued by Rarever Financial Advisors Private Limited (‘Manager to the Offer’) on behalf of Mr. Amarandhar Reddy Kotha (Acquirer 1) and Mr. Mallour Rajesh Kumar (Acquirer 2) (hereinafter collectively referred to as ‘Acquirers’) in connection with the Open Offer to acquire 39,25,988 Equity Shares having a Face Value of ₹ 10/- each (“Equity Shares”) of The Dolphin Medical Services Limited (“Target Company”) at a price of ₹ 4.80, representing 26% of the Equity Share Capital of the Target Company (“Offer”) from the equity shareholders of the target company, in compliance with Regulation 18(12) of the SEBI (SAST) Regulations (the “Post Offer Advertisement”). The Detail Public Statement dated May 22, 2026, which was published in the following newspapers in accordance with the provisions of Regulation 14(3) of the SEBI (SAST) Regulations, 2011: Newspaper & Language Editions Financial Express (English) All Editions Jansatta (Hindi) All Editions Mana Telangana (Hyderabad Daily) Hyderabad Mumbai Lakshadeep (Marathi) Mumbai 1. N ame of the Target Company : Dolphin Medical Services Limited 2. N ame of the Acquirer and PAC : Mr. Amarandhar Reddy Kotha (Acquirer 1) and Mr. Mallour Rajesh Kumar (Acquirer 2) 3. N ame of the Manager to the Offer : Rarever Financial Advisors Private Limited 4. N ame of the Registrar to the Offer : Integrated Registry Management Services Private Limited 5. O ffer details a.) Date of opening of the Offer : Friday, July 31, 2026 b.) Date of closing of the Offer : Thursday, August 13, 2026 6. . Date of completion of payment of consideration : Friday, August 21, 2026 and communication of Rejection/Acceptance 7. Details of Acquisition: Sr. Particulars Proposed in the Letter of Offer Actuals 7.1 Offer Price (in Rs.) ₹4.80/- ₹ 4.80/- 7.2. The aggregate number 39,25,988 18,000 of Shares tendered 7.3. The aggregate number 39,25,988 18,000 of Shares accepted 7.4. Size of the offer (the ₹1,88,44,743/- ₹ 86,400/- number of Equity Shares multiplied by the Offer Price per Equity Share) 7.5. Shareholding of the Acquirers before Public Announcement 1,327 1,327 • Number 0.01% 0.01% • % of Equity Share Capital 7.6. Shares agreed to be acquired by way of a Share Purchase Agreement (‘SPA’) 31,63,390 31,63,390 • Number 20.95% 20.95% • % of Equity Share Capital 7.7. Shares acquired by way of Open Offer • Number 39,25,988 18,000 26.00% 0.12% • % of Equity Share Capital 7.8. Shares acquired after Detailed Public Statement (‘DPS’) NIL NIL • Number of Shares Not Applicable Not Applicable Acquired Not Applicable Not Applicable • Price of the Shares Acquired • % of the shares acquired 7.9 Detail Post Offer Pre Offer % of Equity % of Equity No. of Shares No. of shares Share Capital Share Capital Pre & Post offer 70,90,705 46.96 31,82,717 21.08 Shareholding of the Acquirers 7.10. Detail Pre Offer Post Offer Pre Offer Post Offer Pre & Post offer 1,11,07,651 71,80,336 1,11,07,651 1,10,88,324 Shareholding of the 73.56% 47.55% 73.56% 73.43% Public 7.11 Post Offer Shareholding No of Share % of shareholding of the Target Company Promoter and Promoter Group (A) Acquirers 31,82,717 21.08% Existing Promoters 8,28,911 5.49% Total (A) 40,11,628 26.57% Public Shareholders 1,10,88,324 73.43% Total (A+B) 1,50,99,952 100.00% Note: a) The difference, if any, in the percentage is due to rounding-off b) Pre-Shareholding Pattern is based on June 30, 2026. 8. The Acquirers accept full responsibility for the information contained in this Post Offer Advertisement and also for the obligations under SEBI (SAST) Regulations, 2011. 9. A copy of this Post Offer Advertisement will be available on the websites of SEBI, BSE Limited (BSE), and the registered office of the Target Company. Issued by the Manager to the Offer on behalf of the Acquirer MANAGER TO THE OFFER REGISTRAR TO THE OFFER RAREVER FINANCIAL ADVISORS PRIVATE LIMITED Integrated Registry Management Services Private Registered Office: 807, Iconic Shyamal, Shyamal Cross Limited Road, 132 Ring Road, Satellite, Manekbag, Ahmedabad, Registered Office: 2nd Floor, Kences Towers, 1, Gujarat, 380015 Ramakrishna Street, T. Nagar - 600017, Chennai, India Contact Person: Mr. Prasann Bhatt / Mr. Jiten Patel Contact Person: Mr. J Gopinath Tel No.: +9199981 23745 Contact Number: +91-080 — 23460815 to 818 Email: mb1@rarever.in Email: irg@integratedindia.in Investor Grievance Id: IG@rarever.in Website: www.integratedregistry.in SEBI Reg. No.: INM000013217 For and on behalf of the Acquirers Sd/- Sd/- Mr. Amarandhar Reddy Kotha Mr. Mallour Rajesh Kumar (Acquirer 1) (Acquirer 2) Date: Thursday, 27, 2026 Place: Hyderabad ewH«$dma, {X. 28 Am°JñQ> 2026 _w§~B© bjXrn 11 Am`grgrMr `wEB©Mm \$b§XmO nXmWmg© mR>r nm{°P{Q>ìh MmMUr X¡."_w§~B© bjXrn' PUBLIC NOTICE Amë`m_iw o `Ew BM© m \$bX§ mO झालेला असुन वारस ह ा माने ांचा मुलगा ी. 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