Mark Corporate Advisors Private Limited ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement under Regulation 18(12) of Securities and Exchange Board of India ....
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Mark Corporate Advisors has filed the Post Offer Advertisement for the open offer to acquire shares of Balgopal Commercial Ltd by Mr. Sandeep Jindal and allied entities at ₹60 per share. The offer ran from April 11 to April 28, 2025, with payment completed on May 7, 2025. Only 21,64,890 shares were tendered (about 44% of the maximum 49,43,000 shares targeted), making the actual offer size ₹12.99 crore instead of the proposed ₹29.66 crore. Post-offer, the Acquirers and PACs hold 45.43% of the voting capital, short of the targeted 60.04%. Public shareholding now stands at 54.57% post-offer versus 59.64% earlier.
The open offer closed with low shareholder participation, signaling lukewarm retail interest, though the acquirer group has secured a controlling stake of over 45% and remains the largest shareholder. For existing public shareholders, further consolidation or delisting moves by the acquirer group cannot be ruled out given their dominant position.