D & A Financial Services (P) Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer ("LOF") to the public shareholders of Addi Industries Ltd ("Target Company").
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Addi Industries Ltd, listed on BSE (Scrip Code: 507852), is subject to an open offer under SEBI (SAST) Regulations 3(1) and 4 by a group of six acquirers led by Mr. Rajat Goyal, Mrs. Neha Agarwal, Mr. Sandeep Mittal, Mrs. Ruchi Mittal, and their respective HUFs. The acquirers have signed a Share Purchase Agreement (SPA) dated May 20, 2025 with existing promoters to buy 80,18,175 shares (74.27%) at Rs. 74.40 per share for a total deal value of about Rs. 59.66 crore. Following this, a mandatory open offer has been triggered for up to 27,78,399 shares (25.73%) at Rs. 75 per share in cash. The offer opens on August 28, 2025 and closes on September 11, 2025, and will result in complete change of control and management of Addi Industries.
This is a change-of-control takeover — public shareholders can tender shares at Rs. 75 between Aug 28 and Sep 11, 2025. The stock may see price movement around the offer window, but note that post-offer public shareholding could fall below the mandatory 25% minimum, potentially affecting liquidity and listing status.