Copy of Public Announcement received by the Company
Awaiting price reaction for this filing.
Four acquirers — Lotus Excel Wealth Creators LLP, HODL Systems LLP, Bagepalli Vijayakumar Harish, and Rattan Kapoor — have announced an open offer to buy up to 36,30,190 equity shares (26% of the emerging voting share capital) of Shamrock Industrial Company at ₹16.40 per share, totalling about ₹5.95 crore. The offer is triggered by a Share Purchase Agreement (SPA) where the existing promoter group will sell 16,36,899 shares (30.15% of existing capital) to the acquirers, alongside a preferential allotment of 58.74 lakh new equity shares and 76.02 lakh optionally convertible debentures. After all underlying transactions, the acquirers will collectively hold 53.80% of the emerging voting share capital, resulting in a complete change of control. The current promoters will step down and be declassified from the promoter group. The shares currently trade under Graded Surveillance Measure (GSM) Stage 3 on BSE, and the acquirers have stated no intention to delist the company.
This represents a change of control with a clear exit opportunity for public shareholders at ₹16.40 per share. Stock price may react positively toward the offer price, but the GSM Stage 3 tag and small deal size (under ₹6 crore) limit broader market excitement.