Bonanza Portfolio Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Shareholders of Indian Link Chain Manufacturers Ltd ("Target Company").
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On the reaction day the stock moved 3.1 pts more than Nifty Microcap 250 and 3.3 pts more than its Other Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Mr. Rajendra Kamalakant Chodankar (Acquirer) is making a mandatory open offer to buy up to 7,93,000 equity shares (26% of the emerging voting capital) of Indian Link Chain Manufacturers Ltd (ILCML) at ₹71 per share, totaling a maximum payout of about ₹5.63 crore. The offer was triggered by a preferential allotment where the Acquirer subscribed to 10,00,000 equity shares (32.79%) and 40,00,000 convertible warrants, leading to a change in management control. The open offer window runs from October 23, 2025 to November 6, 2025. BSE's in-principle approval was received on September 2, 2025, and the preferential shares were allotted on September 12, 2025. The Acquirer's background is in technology, consultancy, and optics, while ILCML operates in agri-food products, which is flagged as a potential risk.
Shareholders can tender their shares at ₹71 during the October 23 to November 6, 2025 window, or choose to hold. The offer signals a change in control, which may lead to shifts in business strategy. If the market price stays below ₹71, the offer acts as a floor; if above, investors typically hold for the higher market price.