Open offer at Rs 1.85 per share to acquire 26 percent stake in Jai Mata Glass
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Draft Letter of Offer filed for an open offer to acquire up to 2.6 crore equity shares (26 percent) of Jai Mata Glass at Rs 1.85 per share in cash. Triggered by a Share Purchase Agreement dated July 13, 2026 where Mr. Ashwani Gulati, Ms. Kiran Gulati, and Veerasha Trust will buy 4.45 crore shares (44.57 percent) from existing promoters at Rs 1.85, totalling Rs 8.24 crore. Offer opens Sept 3 and closes Sept 17, 2026. Post-offer, acquirers will hold 70.57 percent. JMGL is a small BSE-listed glass trading firm with declining revenues and net losses in FY26.
Change of control with new promoters holding 70.57 percent post offer; public shareholders can tender at Rs 1.85. Acquirers plan to revive operations.