Intimation in terms of Regulation 30 read with Part A Schedule III of SEBI LODR Regulations 2015 with respect to Shareholders Agreement entered for change in control of Company.
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Addi Industries has informed BSE that a Share Purchase Agreement (SPA) has been signed on 20 May 2025 between the existing Specified Promoters (Mr. Abhishek Bansal, Mrs. Anju Bhasker, Mr. Chaman Lal Jain, Mr. Hari Bansal, Mrs. Urmila Jain, and M/s Ultimate Investments LLP) and the Acquirers (Mr. Rajat Goyal, Mrs. Neha Aggarwal, M/s Rajat Goyal HUF, Mr. Sandeep Mittal, Mrs. Ruchi Mittal, and M/s Sandeep Mittal & Sons HUF). The Acquirers will purchase up to 80,18,175 equity shares representing 74.27% of the paid-up share capital at Rs. 74.40 per share. This transaction will result in a complete change in management and control of the company. The existing promoters will cease to be in control, and the process for their declassification will be initiated. The Board composition and key managerial personnel will also change. The filing notes that the deal is subject to fulfilment of conditions, including regulatory approvals and completion of an open offer under SEBI Takeover Regulations, 2011.
This is a significant change of control event for retail shareholders. Existing promoters are exiting and new acquirers (unrelated to the current management) are taking over 74.27% of the company. Shareholders should expect an open offer from the acquirers at a SEBI-determined price, and changes to the board and management team. The deal price of Rs. 74.40 per share sets a reference benchmark, though the open offer price may differ.