Announced Thu, 23 Jul · 21:53 IST
Acquirer signs SPA for 15.57 percent stake in Mitshi India, open offer at Rs 15
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.1%1-day move
₹14.30
prior close
₹17.29
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-5.1-3.2+0.0—-2.1—————————
Up moveDown movePending
AI summary
Karronn Naresh Bajaj signed an SPA to buy 13,70,070 shares (15.57 percent) from promoters Kumar V Shah and Deepa K Shah for about Rs 2.05 crore at Rs 15 per share. This triggers a mandatory open offer for 22,38,000 shares (26 percent) at Rs 15 per share from public shareholders. Post completion, Bajaj becomes the new promoter with control; current promoters move to public category.
Likely market impact
Change of control incoming. New promoter Karronn Naresh Bajaj takes over. Public shareholders can tender shares at Rs 15 in the open offer.