Gretex Corporate Services Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer for the attention of the Public Shareholders of Chambal Breweries & Distilleries Ltd ....
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Gretex Corporate Services, the Manager to the Offer, has submitted the Letter of Offer dated September 4, 2025 to BSE for an open offer to public shareholders of Chambal Breweries and Distilleries Ltd (CBDL). Acquirer M/s. Invade Agro Limited (acting through MD Mrs. Meenal Shrirang Patwardhan) is offering to buy up to 19,47,077 equity shares (26% of voting capital) at ₹6.00 per share in cash, with total maximum consideration of about ₹1.17 crore assuming full acceptance. The trigger is a Share Purchase Agreement dated May 30, 2025, under which Invade Agro will acquire 12,03,839 shares (16.08%) from the existing promoters (Mr. Bharat, Parasram, and Vinod Jhamnani) at ₹5.50 per share. Post-offer, assuming full acceptance, the acquirer's total holding will rise to 42.08% of CBDL as Invade Agro seeks to reclassify itself as a promoter under SEBI LODR Regulation 31A(5). The tendering period runs from September 16 to September 29, 2025, and there are no plans to delist or alter the existing business of CBDL.
Public shareholders can tender shares at ₹6.00 between September 16–29, 2025 if they wish to exit. The deal signals a change in controlling promoters of the listed company (CBDL) but the acquirer has indicated no intention to delist or change the business line, so existing minority investors' holdings remain intact on the exchange.