Open Offer for 26% stake in Mayur Leather at Rs 27.92 per share
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Mr. Ghanshyam Hansrajani has announced an Open Offer to acquire up to 12,57,048 equity shares (26%) of Mayur Leather Products Limited from public shareholders at Rs 27.92 per share, total consideration of Rs 3.51 crore. This follows a Share Purchase Agreement with existing promoters for 26.50% stake at Rs 15 per share, triggering SEBI takeover regulations. Post-offer, the acquirer will hold 52.50% and gain control. Target company has minimal current operations with no revenue from operations reported.
Public shareholders can tender shares at Rs 27.92. Acquirer gains control. Existing promoters will exit and be reclassified as public shareholders.