Navigant Corporate Advisors Limited ("Manager to the Offer") has submitted to BSE a copy of Offer Opening Public Announcement to the Shareholders of Midland Polymers Ltd ("the Company").
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Five acquirers — Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, and Ravi Kiran Veeramalla — have launched an open offer to buy up to 97,50,000 equity shares (26% of expanded share capital) of Midland Polymers at Rs. 10 per share in cash. The Committee of Independent Directors has opined that the offer price is fair and in line with SEBI Takeover Code norms, and no competing bid has emerged. The Letter of Offer was dispatched to public shareholders on 26 May 2026. The revised schedule opens the offer on 3 June 2026 and closes it on 16 June 2026, with payment of consideration by 1 July 2026.
Public shareholders of Midland Polymers can tender their shares at Rs. 10 each between 3–16 June 2026. The offer represents a mandatory takeover-code trigger following the acquirers building a stake, and shareholders not tendering will remain invested in a company with a changed controlling group.