D & A Financial Services (P) Limited ("Manager to the Offer") has submitted to BSE a copy of Detailed Public Statement to the Public Shareholders of Addi Industries Ltd ("Target Company") ....
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Awaiting price reaction for this filing.
A group of six acquirers – Mr. Rajat Goyal, Mrs. Neha Agarwal, Rajat Goyal HUF, Mr. Sandeep Mittal, Mrs. Ruchi Mittal, and Sandeep Mittal & Sons HUF – have made an open offer to acquire up to 27,78,399 equity shares (25.73%) of Addi Industries Limited at Rs. 75 per share, taking the total offer value to about Rs. 20.84 crore. The open offer follows a Share Purchase Agreement (SPA) signed on May 20, 2025, under which the acquirers will buy 80,18,175 shares (74.27%) at Rs. 74.40 per share from the existing promoter group sellers, resulting in a complete change of control. Post-offer, the acquirers will become the new promoters, and the existing promoter group (including Chaman Lal Jain family and Ultimate Investments LLP) will be re-classified as public shareholders. Addi Industries, listed only on BSE (Scrip: 507852), has reportedly ceased its core garment manufacturing business and is generating limited revenue.
This is a significant change-of-control event – public shareholders can tender shares at Rs. 75 (above the 60-day VWAP of Rs. 49.50). With post-offer shareholding potentially reaching 100%, there is a risk of delisting or loss of minimum public shareholding compliance. Investors should weigh the tendering price against the illiquid trading history (annualized turnover just 11%) and uncertainty about the new management's plans for the company.