Intimation on Detailed Public Statement in relation to Open Offer to the public shareholders of the Company

Listed-company acquisitionOpen offer triggeredStrategic Transactions View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

+5.0%Reaction day

₹62.92

prior close

₹66.06

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.1%+5.1% vs market

Packaged Foods peers, median of 33sector-0.5%+5.5% vs sector

On the reaction day the stock moved 5.1 pts more than Nifty Microcap 250 and 5.5 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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Reaction day

+5.0-0.1+5.1-0.5+5.5

Next day

+10.2+1.3+8.9+0.5+9.8

+15.7+2.1+13.7+1.1+14.6

+18.0+2.5+15.5+2.0+16.1

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15d

+37.4+1.3+36.1+0.0+37.4

+54.7+2.1+52.6+0.5+54.2

+74.9-1.4+76.4-3.5+78.5

+52.6-0.1+52.7-2.6+55.2

UpDownMarket · Nifty Microcap 250Sector · Packaged Foods peers, median of 33Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Lake Shore Realty Ltd (formerly Mahaan Foods Ltd) has informed BSE about a Detailed Public Statement for an Open Offer under SEBI Takeover Regulations. AL Maha Investment Fund PCC (Mauritius-based FPI) and Indigo Infracon Private Limited are jointly acquiring 19,19,630 shares (54.84% stake) from existing promoters (Goyal family) via a Share Purchase Agreement signed May 30, 2025 at ₹57.51 per share, totalling about ₹11.04 crore. This triggers a mandatory Open Offer for an additional 9,10,182 shares (26% of equity) from public shareholders at the same price of ₹57.51, with total Open Offer consideration of about ₹5.23 crore. The Offer Price of ₹57.51 is notably higher than the 60-day volume-weighted average market price of ₹44.11. The acquisition ratio between the two acquirers is 70:30. The acquirers intend to retain the company's listing on BSE and continue its current line of business (recently pivoted from food to real estate).

Likely market impact

Public shareholders have an opportunity to exit at ₹57.51 per share, which is a meaningful premium (~30%) over the recent traded price of ₹44.11. The transaction involves a complete change of control with the existing Goyal family promoters exiting. Shareholders who choose not to tender will remain invested in a company under new management that has recently shifted its business focus to real estate.