Saffron Capital Advisors Pvt Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Post Offer Advertisement under Regulation 18(12) of the Securities and Exchange Board of India ....
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Awaiting price reaction for this filing.
Pioneer Jellice India Pvt Ltd and Ashok Matches and Timber Industries Pvt Ltd (jointly the Acquirers) had made an open offer to public shareholders of India Gelatine & Chemicals Ltd under the SEBI Takeover Regulations, 2011. The offer was for up to 18,43,998 equity shares at Rs. 408.90 per share, totalling about Rs. 75.40 crores. Saffron Capital Advisors, the manager to the offer, has now submitted the Post-Offer Advertisement dated April 17, 2025 to BSE, which was published on April 18, 2025 in Financial Express (English & Gujarati), Jansatta (Hindi) and Navshakti (Marathi). This filing is the mandatory post-offer disclosure after the open offer process has concluded.
This marks the formal closure of the open offer window for public shareholders. Shareholders who tendered shares have already been paid, and the Acquirers' stake in the company is now consolidated per the post-offer disclosure. The stock may see reduced trading liquidity going forward as the public float shrinks.