Open Offer for Jai Mata Glass at Rs 1.85 per share for 26 percent stake

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

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On the reaction day the stock moved 4.3 pts more than Nifty Microcap 250 and 3.8 pts more than its Other Construction Materials peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Acquirers Ashwani Gulati, Kiran Gulati and Veerasha Trust are making an open offer for 2.60 crore shares (26 percent) of Jai Mata Glass at Rs 1.85 per share, totalling Rs 4.81 crore. This follows a Share Purchase Agreement signed July 13, 2026 to buy 4.45 crore shares (44.57 percent) from existing promoters at the same price for Rs 8.24 crore. Post-offer, acquirers will hold 70.57 percent. Target company has shown declining revenue (Rs 79.97 lakh in FY25 to Rs 15.08 lakh in FY26) and losses. Offer opens September 3, 2026 and closes September 17, 2026.

Likely market impact

Public shareholders can tender shares at Rs 1.85 each from Sept 3 to Sept 17, 2026. Acquirers gain majority control at 70.57 percent stake post offer.