Detailed Public Statement under SEBI (SAST) Regulation, 2015
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Chambal Breweries & Distilleries Ltd has filed a Detailed Public Statement under SEBI Takeover Regulations, announcing an open offer by Invade Agro Limited (acting through its MD Ms. Meenal Shrirang Patwardhan). The acquirer is offering to buy up to 19,47,077 equity shares (26% of paid-up capital) from public shareholders at Rs. 6 per share, with total consideration of Rs. 1.17 crore assuming full acceptance. The open offer follows a Share Purchase Agreement dated May 30, 2025, where Invade Agro bought 16.08% stake from existing promoters Bharat Jhamnani, Parasram Jhamnani and Vinod Jhamnani at Rs. 5.50 per share. Post-acquisition, the acquirer's total holding would rise to 42.08%. The Public Announcement was made on May 30, 2025, and the DPS was published in Financial Express, Jansatta, Navshakti and Rashtradoot on June 6, 2025. Gretex Corporate Services is managing the offer.
This represents a change of control at Chambal Breweries, with Invade Agro emerging as the new promoter group holding over 42% stake. Public shareholders can tender their shares at Rs. 6 each during the open offer window, but the low offer price and small company size suggest limited liquidity interest. Shareholders should note the target company has been incurring losses and may face delisting risk if the new promoter decides to reduce public holding below the minimum threshold.