Bajaj Capital Securities Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Hindustan Agrigenetics Ltd ("Target Company").
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On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 2.6 pts more than its Other Agricultural Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Bajaj Capital Securities, the manager to the open offer, has submitted the Letter of Offer to BSE for Mr. Rajendra Naniwadekar's open offer to public shareholders of Hindustan Agrigenetics Limited. The acquirer already holds 24.10% of the company and has signed a Share Purchase Agreement with promoter Pritam Kapur to buy an additional 1% stake at ₹50 per share, which triggers this mandatory open offer under SEBI Takeover Regulations. Through the open offer, Naniwadekar seeks to acquire up to 11,44,052 shares (26% of voting capital) at ₹54 per share, totaling about ₹6.18 crore in cash. The tendering period runs from September 8, 2025 to September 19, 2025, after which the acquirer would hold 51.10% of the company, gaining control and management. Post-offer, the selling promoter and other promoter group members will be reclassified as public shareholders.
This is a takeover event — public shareholders can tender their shares at ₹54 during the offer window if they wish to exit. The change in control may lead to strategic shifts in the company's business direction as the new acquirer intends to revive operations and explore new opportunities.