Intimation of Share Purchase Agreement entered into between the Promoters of the Company and the Acquirers on May 30, 2025
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The promoters of Lake Shore Realty Ltd (formerly Mahaan Foods Limited) have signed a Share Purchase Agreement (SPA) on May 30, 2025 to sell their entire 54.84% stake (19,19,630 equity shares) to AI Maha Investment Fund PCC – ONYX Strategy and Indigo Infracon Private Limited at ₹57.51 per share, totaling roughly ₹11.04 crore. The selling promoters include Managing Director Sanjeev Goyal, Saloni Goyal, Aditya Goyal, Sanya Goyal, Sanjeev Goyal HUF, and Priyanka Sethi. Post the deal, the acquirers will trigger an open offer to public shareholders in line with SEBI Takeover Regulations 3(1) and 4, and the selling promoters will completely exit the company, leading to a full change of control.
This is a change-of-control event with an open offer likely to follow, which could provide public shareholders an opportunity to tender shares at the open offer price. The stock may see increased activity and volatility around the open offer announcement, and existing investors should watch for the open offer price, which may differ from the SPA price of ₹57.51.