Dugar family triggers ₹3.54 crore Colinz Laboratories open offer at ₹54 per share

A group of acquirers — Annjana Dugar, Likhitta Dugar and Antariksh Dugar, with Padam Dugar acting in concert — has launched a mandatory open offer for up to 654,966 shares of Colinz Laboratories , or 26% of its voting capital. The offer is priced at ₹54 per share, totalling about ₹3.5368 crore in cash.

The offer follows a Share Purchase Agreement dated June 18, 2026, under which the acquirers agreed to buy 870,500 shares — 34.56% of voting capital — from existing promoter Vijaya Mani at ₹50 each. That purchase lifts their holding to 37.01%, crossing a threshold under the SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011, that mandates an open offer.

The transaction is expected to result in a change of control at Colinz Laboratories. The SPA consideration is about ₹4.3525 crore, on top of the open offer cash.

The offer price was set considering the highest negotiated SPA price and the volume-weighted average market price. It is payable in cash, not conditional on minimum acceptance, and not a competitive offer.

The acquirers have opened an escrow account with ICICI Bank and deposited ₹89 lakh — more than 25% of the total offer consideration. Saffron Capital Advisors is manager to the offer; Bigshare Services is registrar.

The tendering period opens August 11, 2026, and closes August 24, 2026, via the BSE acquisition window. Payment to shareholders is due by September 8, 2026, and holders in both dematerialised and physical form can participate.

The offer sits alongside other portfolio activity at Colinz, including the completed ₹4 crore sale of its Nashik factory undertaking to Hilsun Foods And Drugs, with the final tranche received on June 18, 2026 — the same date as the SPA. The stock, cited at ₹71.96 on June 24, 2026, trades above the ₹54 offer price, a gap that could weigh on tender participation.