Open Offer by Mr. Amar Talwar to acquire 26% stake in Jay Kailash Namkeen at Rs 56/share
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On the reaction day the stock moved 4.9 pts more than Nifty Microcap 250 and 4.6 pts more than its Packaged Foods peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Acquirer Mr. Amar Pramod Talwar has triggered a mandatory open offer for 21,76,540 shares (26%) of Jay Kailash Namkeen at Rs 56 per share, totaling up to Rs 12.19 crore. This follows a preferential allotment of 33,74,375 shares (40.31% of expanded capital) to him via a share swap with Vayuveer Solutions Pvt Ltd. He will become the new promoter. No delisting planned.
Shareholders can tender shares at Rs 56. New promoter takes 40.31% stake. Watch share price movement around offer price.