Navigant Corporate Advisors Ltd ("Manager to the Offer") has submitted to BSE a copy of Post Offer Advertisement to the Equity Shareholders of Lords Mark India Ltd ("Target Company").
Awaiting price reaction for this filing.
Navigant Corporate Advisors has filed the Post Offer Advertisement for the open offer made by Mr. Sachidanand Hariram Upadhyay to acquire up to 2,60,000 equity shares (26% stake) of Lords Mark Industries at Rs. 30 per share. The open offer ran from October 13 to October 28, 2025, but no shares were tendered by public shareholders. The acquirer had already acquired 4,90,051 shares (49.01%) through a Share Purchase Agreement (SPA) signed before the offer, which triggered the mandatory open offer under SEBI SAST Regulations. Post-offer, the acquirer's holding stands at 49.01% (instead of the proposed 75.01%), while public shareholders continue to hold 50.99% of the company.
The acquirer has secured a controlling 49.01% stake in the company through the SPA, with no dilution of existing public shareholders since the open offer saw zero participation. Existing minority shareholders retain their full 50.99% stake, but the company now has a new controlling shareholder, which could signal future changes in management or strategy.