Open offer for Midland Polymers closes poorly, only 1765 shares tendered
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Five acquirers (Gayathri Boreddy, Jagannath Edla, Radha Krishna Avudari, Mahammad Amaan Shaik, Ravi Kiran Veeramalla) made an open offer for 97.5 lakh shares of Midland Polymers at Rs. 10 each. The offer opened June 3 and closed June 16, 2026, with only 1,765 shares tendered, far below the 97.5 lakh target. Effective control is shifting mainly through a 2.59 crore share preferential issue at 69.15 percent, which is still awaiting in-principle approval from BSE.
Massive undersubscription: only 1,765 shares tendered against 97.5 lakh offered. Real control transfer now depends on the pending preferential allotment approval.