Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Recommendations of the Committee of Independent Directors (IDC) on the Open Offer to the Shareholders ....
Awaiting price reaction for this filing.
The Committee of Independent Directors of Shah Foods Limited has issued its recommendations on an open offer as required under SEBI (SAST) Regulations. The open offer is being made by Mr. Ankit Jalan and Mr. Anuj Jalan (Acquirers) along with Jalan Sarees Private Limited and 6 other persons acting in concert (PACs) to acquire up to 60,61,900 equity shares representing 26% of the existing equity capital. The offer price is Rs. 62.50 per share (face value Rs. 10). Navigant Corporate Advisors Limited is the Manager to this Offer. The recommendations were published in Financial Express, Jansatta, and Pratahkaal newspapers on May 11, 2026.
This open offer, if successful, will result in the Jalan family acquiring a significant 26% stake in Shah Foods, potentially changing the control structure of the company. Existing shareholders who tender will receive Rs. 62.50 per share, representing a premium over the face value.