Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Offer Opening Public Announcement to the Shareholders of Banganga Paper Industries Ltd ("Target Company").
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On the reaction day the stock moved 1.7 pts more than Nifty Microcap 250 and 1.5 pts more than its Diversified Commercial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Navigant Corporate Advisors Ltd, the manager to the offer, has submitted the Pre-Offer Advertisement for an open offer by four acquirers (Ronak Jain, Sarita Jain, Priyanka Jain, and K K Impex & Trading Private Limited) along with three persons acting in concert (Karan Jain, Karishma Rohit Jain, and Radhika Karan Jain). The offer is to acquire up to 91,741,759 equity shares (26.00% of expanded equity) of Asgard Alcobev Ltd (formerly Banganga Paper Industries Ltd, BSE Code: 512025) at Rs. 1.45 per share. The advertisement was published on 2 April 2026 in Business Standard (English and Hindi) and Marathi dailies Pratahkal and Prahaar.
This is a standard regulatory filing for a mandatory open offer under SEBI SAST regulations, triggered by a substantial acquisition. The offer price of Rs. 1.45 represents a takeover opportunity for minority shareholders.