D & A Financial Services (P) Limited ("Manager to the Offer") has submitted to BSE a copy of Public Announcement under Regulations 3(1) and 4, read with Regulation 15(1) of the Securities ....
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Six acquirers — Mr. Rajat Goyal, Mrs. Neha Agarwal, Rajat Goyal HUF, Mr. Sandeep Mittal, Mrs. Ruchi Mittal, and Sandeep Mittal & Sons HUF — have signed a Share Purchase Agreement (SPA) dated May 20, 2025, to buy 80,18,175 equity shares (74.27%) of Addi Industries Ltd from existing promoters (Bansal and Jain families, along with Ultimate Investments LLP) for a total consideration of Rs. 59.65 crore (cash). This triggers a mandatory Open Offer under SEBI SAST Regulations 3(1) and 4 for an additional 27,78,399 shares (25.73%) from public shareholders at Rs. 75 per share (face value Rs. 5). D&A Financial Services is acting as the Manager to the Offer. The Detailed Public Statement is scheduled to be issued by May 27, 2025. The offer is not conditional on minimum acceptance.
This is a full change-of-control event — the existing promoter group is completely exiting the company. Public shareholders can tender their shares at Rs. 75 in the open offer, while those holding long-term may benefit if the new management drives future growth. Share price could see volatility around the offer window.