ENCLOSED HEREWITH INTIMATION OF COMPLETION OF OPEN OFFER & RECLASSIFICATION OF EXISTING PROMOTER TO PUBLIC CATEGORY
Awaiting price reaction for this filing.
Satani Bearings Ltd has completed an Open Offer that was made by four members of the Satani family — Pareshbhai, Tanuj, Chirag, and Ramjibhai Satani — to the public shareholders under SEBI Takeover Regulations. The Open Offer closed on March 13, 2026. Following this, 12 members of the Vora family and related HUFs, who were earlier classified as promoters with nil shareholding, have been reclassified from the Promoter/Promoter Group category to Public shareholders. The current promoter group now consists of the four Satani family members along with Hashmukh R Gandhi, Bhagatsingh Rajpurohit, and Balu K Narang, holding a combined 1.39 crore shares (69.66%) of the company.
This is a routine post-acquisition housekeeping update — the Open Offer has closed and existing promoters with zero holdings are being moved to the public category. For shareholders, this confirms the change in control to the Satani family is complete, with no further open offer obligations. The new promoter holding of 69.66% signals strong family control going forward, which may reduce free float but is not negative in itself.