JJ IPO Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Draft Letter of Offer for the attention of the Public Shareholders of Arco Leasing Ltd ("Target Company").
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Mr. Jitesh Kothari and Mr. Atul Ramshankar Jaiswal are making a mandatory open offer to acquire up to 27,74,970 equity shares (25.57% of Expanded Voting Share Capital) of Arco Leasing Ltd from public shareholders at ₹10 per share, payable in cash. The maximum consideration amounts to ₹2,77,49,700 assuming full acceptance. This offer was triggered under SEBI (SAST) Regulations 3(1) and 4 following the execution of a Share Purchase Agreement (for 1,28,600 promoter shares at ₹6 each) and a Share Subscription Agreement (for 79,50,000 new equity shares at ₹10 each at a proposed preferential issue). The offer is conditional upon RBI approval as Arco Leasing is an NBFC, and also upon BSE's in-principle approval for the preferential issue. The tentative tendering period runs from May 13, 2026 to May 26, 2026.
This is a mandatory open offer that will result in a change in control of Arco Leasing Ltd. Public shareholders have the option to tender their shares at ₹10 per share. After the offer and the preferential issue, the acquirers will hold a significant majority stake, and the company must maintain minimum public shareholding norms.