JM Financial Limited has Submitted to the Exchange a copy of pre offer advertisement in accordance with Regulation 18(7) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended, and corrigendum to the public announcement and detailed public statement for the attention of the public shareholders of the Company.
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JM Financial Limited, acting as Manager to the Offer on behalf of the Acquirer, has submitted a Pre-Offer Advertisement cum Corrigendum to the Public Announcement and Detailed Public Statement for NACL Industries Limited. The Open Offer is for acquisition of up to 5,24,62,320 equity shares representing 26.00% of the voting share capital from public shareholders, at an offer price of Rs. 65.30 per equity share. This is a mandatory open offer triggered under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following underlying share purchase agreements with the Promoter and Tag Holders for shares representing 52.9% of voting capital. The corrigendum revises the schedule of activities, with the Tendering Period now scheduled from August 22, 2025 to September 5, 2025, and includes updates on statutory approvals and shareholder agreements.
Public shareholders of NACL Industries can tender their shares in the Open Offer at Rs. 65.30 per share between August 22 and September 5, 2025. The change in control with the Acquirer's nominees taking over as Managing Director and CEO signals a significant shift in the company's management.