Promoters sign SPA to sell 72.58% stake; open offer at Rs 28 per share
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Existing promoters Bbigplas Poly Private Limited and Sarla Surana signed a Share Purchase Agreement with Mr. Ashish Begwani to sell 40,12,335 shares (72.58% of paid-up capital). This triggers a mandatory open offer for 14,37,420 shares (26%) at Rs 28 per share in cash. Upon completion, the acquirer becomes the sole promoter and gains control; sellers will be reclassified as non-promoters. Subject to closing conditions and regulatory approvals.
Change of control incoming. New promoter takes over; public shareholders get an exit option at Rs 28 per share through the open offer.