Fintellectual Corporate Advisors Pvt Ltd ("Manager to the offer") has submitted to BSE a copy of Letter of Offer to the public shareholders of CDG Petchem Ltd ("Target Company").
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Jujhar Constructions and Travels Private Limited (Punjab-based) has filed the Letter of Offer with BSE to acquire up to 26,00,000 equity shares (26% of expanded capital) of CDG Petchem at ₹41 per share in cash. The open offer is triggered by a Share Purchase Agreement dated April 8, 2025, under which the acquirer is buying 19,11,052 shares (62.10% of pre-issue capital) from the existing Dugar family promoters at ₹35 per share, aggregating to about ₹6.69 crore. Additionally, a preferential allotment of 61.58 lakh equity shares and 7.64 lakh warrants was made to the acquirer and other public shareholders at ₹41 per share on June 14, 2025. The offer opens on October 10, 2025 and closes on October 27, 2025. The acquirer will become the new promoter of the company, and the Dugar family will cease to be promoters.
Public shareholders of CDG Petchem can tender their shares at ₹41 per share during the offer window (Oct 10–27, 2025). This represents a change of control with the Dugar family exiting and Jujhar Constructions taking over as promoter, which may lead to reconstitution of the board. Note that post-offer, public shareholding will fall below the mandatory 25% minimum, and the acquirer has committed to restoring compliance within the required timeframe.