Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Post-Offer Public Announcement to the public shareholders of Magnanimous Trade & finance Ltd ....
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Awaiting price reaction for this filing.
Mr. Kurjibhai Premjibhai Rupareliya (the Acquirer) has made an open offer to buy up to 2,47,382 shares, equal to 26% of the voting share capital, from public shareholders of Magnanimous Trade & Finance Ltd at ₹391 per share (including 10% interest per annum for delay). The total maximum consideration works out to about ₹9.67 crore, payable in cash. This open offer is mandatory under SEBI Takeover Regulations because the Acquirer has signed a Share Purchase Agreement dated November 13, 2024 to buy 6,79,350 shares (71.40% of voting capital) from the existing promoters and promoter-group entities at ₹385 per share. The Post-Offer Public Announcement was published on May 5, 2025 in several newspapers.
This is a change-of-control event — the Acquirer is taking over the company by buying out the promoters and then offering to buy 26% more from public shareholders. Public investors can choose to tender shares at the ₹391 offer price or hold on; the stock price will likely move closer to the offer price in the near term.