Bonanza Portfolio Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Detailed Public Statement in accordance with the provisions of Regulation 13(4), 14(3) and 15(2) and such ....
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Mr. Abhishek Narbaria and Mr. Umesh Kumar Sahay (the Acquirers) have announced an open offer to acquire up to 4,52,400 equity shares, representing 26.00% of the voting share capital, of Synthiko Foils Limited from its public shareholders. The offer is being made under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following a Share Purchase Agreement with the existing promoters. Bonanza Portfolio Limited is acting as the Manager to the Offer. The Detailed Public Statement was published on May 9, 2025 in Financial Express (English), Jansatta (Hindi) and Mumbai Lakshdeep (Marathi). The trigger for the open offer is a change in control/promoter acquisition event under Regulations 3(1) and 4 of the SEBI Takeover Code.
For existing public shareholders of Synthiko Foils, this opens a window to tender their shares at the offer price and exit, potentially at a premium to market. The 26% offer size is sizeable relative to typical floating supply and may create short-term price action and volume in the stock.