Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Letter of Offer to the Public Shareholders of Magnanimous Trade & finance Ltd ("Target Company").
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Mr. Kurjibhai Premjibhai Rupareliya is making a mandatory open offer to buy up to 2,47,382 shares (26% of voting capital) of Magnanimous Trade & Finance Ltd from public shareholders at ₹391 per share (including 10% annual interest for delay), with a maximum payout of around ₹9.67 crore. The offer is triggered by his purchase of 71.40% stake (6,79,350 shares) from the existing promoters at ₹385 per share under a Share Purchase Agreement dated November 13, 2024, valued at about ₹26.15 crore. RBI approval for change in control of the NBFC was received on March 20, 2025. The tendering window runs from April 8 to April 24, 2025, and the offer is not conditional on minimum acceptance. The acquirer is an individual from Gujarat and will assume management control of the company.
Public shareholders of this BSE-listed NBFC can tender their shares at ₹391 during the April 8–24, 2025 window or stay invested under new management. The open offer price effectively matches the negotiated promoter sale price plus interest, which may act as a near-term floor for the stock.