Swaraj Shares and Securities Pvt Ltd ("Manager to the Offer") has submitted to BSE a copy of Pre-Offer Advertisement and Corrigendum to the Detailed Public Statement under Regulation 18(7) ....
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Mr. Kurjibhai Premjibhai Rupareliya (Acquirer) has triggered a mandatory open offer to acquire up to 2,47,382 shares (26% of voting share capital) of Magnanimous Trade & Finance Ltd from public shareholders at ₹391 per share (including 10% interest for delay), aggregating to a maximum of ₹9.67 crore. This open offer follows a Share Purchase Agreement dated November 13, 2024, under which the Acquirer will buy 6,79,350 shares (71.40%) from the selling promoters — SK Parasrampuria HUF, Amber Mercantiles Ltd, and Beopar Sahayak Pvt Ltd — at ₹385 per share, totalling ₹2.32 crore. Swaraj Shares and Securities Pvt Ltd is acting as Manager to the Offer, and the Pre-Offer Advertisement has been published in Financial Express, Jansatta, Mumbai Lakshadeep, and Jagruk Times on April 7, 2025. The filing is in compliance with SEBI (SAST) Regulations 2011, specifically Regulations 3(1), 4, and 18(7).
Public shareholders can tender their shares at ₹391 per share until the offer closes; the open offer price provides a floor reference for the stock, though actual market price may differ based on demand and the underlying SPA sale proceeds.