Grow House Wealth Management Private Ltd ("Manager to Open Offer") has submitted to BSE a copy of Pre-Offer Advertisement cum Corrigendum to the Detailed Public Statement and Draft Letter ....
Awaiting price reaction for this filing.
Grow House Wealth Management (Manager to the Offer) has filed a Pre-Offer Advertisement cum Corrigendum with BSE for AVI Polymers Limited's open offer. Acquirer Rootsparkle Trading Private Limited is offering to buy 10,63,582 equity shares (26% of the paid-up capital) at Rs.13.00 per share in cash. The selling promoter shareholders have already resigned from the board, and the acquirer's nominees (Chintan Patel and Pankaj Thakkar) were appointed on April 18, 2025. The acquirer has also already completed the purchase of sale shares via SPA on June 03, 2025. The Committee of Independent Directors (IDC) has recommended the offer price as fair and reasonable. The tendering period runs from July 14, 2025 to July 25, 2025, with payment expected by August 8, 2025.
Public shareholders can tender their shares at Rs.13.00 between July 14 and July 25, 2025. Post-completion, Rootsparkle Trading will become the new promoter of AVI Polymers, resulting in a change of control and potential delisting considerations if the open offer is fully subscribed.