Janashakthi makes voluntary offer on Dunamis Capital

Janashakth Plc has announced its voluntary offer to shareholders of Dunamis Capital to buy the remaining 58.86% stake amounting to 72.4 million shares at Rs. 36.60 each. 

The move follows Janashakthi in September buying 38.3 million shares or 31.14% stake at Rs. 36.60 each from related party Nextventures Ltd., and Dinesh Schaffter  thereby increasing its stake to 41.14%.

Though not required to make a mandatory offer Janashakthi is opting for the voluntary offer in the interest of Dunamis shareholders.

As at 31 March 2018, Dunamis had 2,392 shareholders of whom 1,710 or 71.5% hold 1-1,000 shares and 453 (19%) owning 1,001-5,000 shares.