In relation to the open offer made by Mr. Neerav Bairagi ('Acquirer') under Regulations 3(1) and 4 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) ....
Awaiting price reaction for this filing.
JMG Corporation Ltd has informed BSE about receiving the Letter of Offer dated February 5, 2026, for a mandatory open offer by Mr. Neerav Bairagi (Acquirer) under SEBI Takeover Regulations. The offer is for up to 60,21,053 equity shares (26% of voting capital) at ₹5.30 per share, aggregating ~₹3.19 crore at full acceptance. The offer follows a Share Purchase Agreement dated December 4, 2025, with existing promoter Mr. Atul Kumar Mishra, under which the Acquirer will first purchase 84,80,331 shares (36.62%) at ₹4.20 per share (~₹3.56 crore), thereby gaining control. The tendering period runs from February 17, 2026 to March 4, 2026. Post-acquisition, Mr. Bairagi will become the new promoter, with public shareholding standing at 37.38% assuming full acceptance.
Shareholders of JMG Corporation can tender their shares in the open offer at ₹5.30 between February 17 and March 4, 2026. This signals a change of control at the company, which may bring new strategic direction but also creates uncertainty for existing investors about future business decisions.