Letter of offer
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Chambal Breweries & Distilleries Ltd has filed the Letter of Offer for an open offer triggered by Invade Agro Limited's bid to acquire promoter status in the company. Invade Agro signed a Share Purchase Agreement on May 30, 2025 with existing promoters (Mr. Bharat, Parasram, and Vinod Jhamnani) to buy 12,03,839 shares (16.08%) at ₹5.50 per share. As required under SEBI (LODR) Regulation 31A(5) for promoter reclassification, a mandatory open offer is being made to public shareholders for up to 19,47,077 shares (26% of voting capital) at ₹6 per share, totalling about ₹1.17 crore in maximum consideration. The acquirer, primarily an agriculture-sector company, is entering the regulated liquor business. Tendering period runs from September 16 to September 29, 2025.
Public shareholders can tender shares at ₹6/share during the September 16-29, 2025 window. The offer price is only marginally above the underlying SPA price of ₹5.50, suggesting limited premium. Existing promoter family will fully exit post-transaction, with new promoter being an agriculture-focused entity with no stated plans to change the existing business lines.