Mark Corporate Advisors Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public shareholders of Balgopal Commercial Ltd ("Target Company").
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Mark Corporate Advisors has submitted the Letter of Offer to BSE for an open offer to public shareholders of Balgopal Commercial Ltd, a BSE-listed company. A group of acquirers led by Mr. Sandeep Jindal, along with Allied Commodities Pvt Ltd and Prompt Vanijya LLP, and PACs Basudev Dealers LLP and Mr. Vijay Laltaprasad Yadav, are offering to buy up to 49.43 lakh equity shares (26% of the expanded share capital) at ₹60 per share, totaling about ₹29.66 crore in cash. The offer was triggered by a preferential allotment of 25 lakh shares to Allied Commodities at ₹60 per share, and upon completion, the acquirer group will take control and become the new promoters, while the existing promoters will seek reclassification as public shareholders. The offer opens on April 11, 2025 and closes on April 28, 2025.
This is a mandatory open offer triggered by a change of control via preferential allotment, not through any scheme of arrangement. Public shareholders can tender shares at ₹60 each during the tendering period; the acquirer group plans to diversify the company into construction and building activities and may reorganize the capital structure and board going forward.