JJ IPO Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of the Public Shareholders of Arco Leasing Ltd ("Target Company").
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Awaiting price reaction for this filing.
A mandatory open offer has been triggered for Arco Leasing Ltd (BSE: 511038) under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 3(1) and 4, following a change-of-control transaction. Acquirers Mr. Jitesh Kothari and Mr. Atul Ramshankar Jaiswal are offering to buy up to 27,74,970 equity shares (25.57% of expanded voting capital) from public shareholders at ₹10 per share, totalling about ₹2.77 crore assuming full acceptance. Separately, the acquirers are purchasing 1,28,600 shares (1.18%) from existing promoters at ₹6/share and subscribing to 79,50,000 fresh shares at ₹10/share via a preferential issue worth ₹7.95 crore, which was approved by shareholders on April 13, 2026. The RBI has already cleared the change in control and management of the company's NBFC subsidiary, Ansu Trade & Fiscals Pvt Ltd. The tendering window will run from July 3, 2026 to July 16, 2026.
Public shareholders of Arco Leasing can sell their shares at ₹10 during the tendering window from July 3–16, 2026, though acceptance is on a proportionate basis if oversubscribed. The deal signals a complete change in ownership and management, which could affect future operations, though the offer price is relatively low for a listed entity.