Gretex Corporate Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement ("PA") under Regulation 4 read with Regulations 13(1) and 15(1) of Securities and ....
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Invade Agro Limited (acting through MD Ms. Meenal Shrirang Patwardhan) has announced a triggered open offer to acquire up to 19,47,077 equity shares (26% of equity and voting capital) of Chambal Breweries and Distilleries from public shareholders at ₹6.00 per share, aggregating to ₹1.16 crore (assuming full acceptance), payable in cash. This follows a Share Purchase Agreement dated May 30, 2025 where the acquirer agreed to buy 12,03,839 shares (16.08%) from three promoter sellers — Mr. Paras Ram Jhamnani, Mr. Bharat Jhamnani, and Mr. Vinod Jhamnani — at ₹5.50 per share, totaling ₹66.21 lakh. The acquirer intends to be reclassified as a promoter of the company under SEBI LODR Regulation 31A(5). Gretex Corporate Services Limited is acting as the manager to the offer, and the acquirer has confirmed no intention to delist the company.
Public shareholders can tender their shares in the open offer at ₹6.00 per share in cash. The open offer price is only marginally above the SPA price of ₹5.50, indicating a modest premium. The change in promoter group signals a shift in controlling interest, though no delisting is planned.