Bonanza Portfolio Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Public Announcement under Regulation 15(1) of Securities and Exchange Board of India (Substantial Acquisition ....
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Awaiting price reaction for this filing.
Bonanza Portfolio Ltd, acting as Manager to the Offer, has filed a Public Announcement for an open offer to acquire up to 4,52,400 equity shares (26.00%) of Synthiko Foils Limited at Rs. 134.12 per share, totaling about Rs. 6.07 crore if fully accepted. The offer is triggered by a Share Purchase Agreement signed on May 2, 2025, under which Mr. Abhishek Narbaria and Mr. Umesh Kumar Sahay will together buy 9,09,703 shares (52.28%) from five existing promoter sellers of the Dadhia family at Rs. 123 per share, aggregating Rs. 11.19 crore. After completion, the two acquirers will become the new promoters of Synthiko Foils Limited, taking full control of the company. The acquirers have stated they intend to retain the BSE listing and are not proposing any delisting.
This represents a change of control at Synthiko Foils Limited with new promoters taking over from the existing Dadhia family. Public shareholders get an opportunity to tender shares at Rs. 134.12, which is Rs. 11.12 above the negotiated promoter sale price of Rs. 123. The stock may see short-term price movement closer to the open offer price.